Canadian Prime Minister Justin Trudeau and President Donald Trump spoke over the telephone Tuesday evening to discuss the brewing trade war between their two countries.
Trudeau told Trump that “Canada will vigorously defend the interests of the Canadian softwood lumber industry,” according to a release from his office.
On Monday, Trump announced the United States would impose tariffs of up to 24 per cent on Canadian softwood lumber, a move that affects some $5.66 billion worth of imports of the construction material.
Anti-dumping duties to be announced June 23 could raise the total to as much as 30 to 35 per cent.
The prime minister is said to have “refuted the baseless allegations by the U.S. Department of Commerce and the decision to impose unfair duties,” during his conversation with Trump, according to the statement.
Reporters asked Trump Tuesday if he was fearful of a trade dispute with Canada. He responded by once again displaying his economic ignorance on trade matters..
“No, not at all,” he responded. “They have a tremendous surplus with the United States. Whenever they have a surplus, I have no fear.”
“The prime minister and the president also discussed Canada-U.S. trade in dairy products, trade which heavily favours the U.S.: Canada imports over $550 million of dairy products from the U.S., but exports just over $110 million to the U.S.,” the statement from the PMO said. Trudeau also let Trump know that he would continue to defend Canada’s dairy sector as well.
-RW
"Canada imports over $550 million of dairy products from the U.S., but exports just over $110 million to the U.S."
ReplyDeleteThe U.S. has to send five dollars' worth of milk and cheese to Canada in order to get back a dollar's worth of milk and cheese in return. Canada sends a dollar's worth of dairy products to the U.S. and gets five dollar's worth of milk and cheese in return. This "heavily favors" the country that is giving up more to gain less. Obviously.
Only if you are ignorant and don't look at the big picture. Do you think the only trade between the US and Canada is Dairy.
DeleteCanada sends us $550 million. We send them $110 million. This heavily favors Canada?* Milk spoils pretty quickly you know.
Delete*No, neither party is heavily favored. We trade milk for dollars to convert into other capital and consumer goods and services. They trade their dollars for yummy milk. We don't need to buy as much milk from them as they do from us because we already make so much of it. Instead we keep the money for buying other capital goods and services.
Yes, and we're also running a massive Crown Royal deficit with them. Save us Donald!!
ReplyDelete