Canada imposes tariffs on US beef
Canada has decided to respond to the US tariffs applied to aluminium and steel by introducing similar measures on 229 products, including bovine products.
A 10% duty for meat and cattle originating from the US has become effective since the beginning of this month, announced Canada's Department of Finance.
"These countermeasures will only apply to goods originating from the U.S., which shall be considered as those goods eligible to be marked as a good of the U.S. in accordance with the Determination of Country of Origin for the Purposes of Marking Goods (NAFTA Countries) Regulations.
These countermeasures will take effect on July 1, 2018, and will remain in place until the U.S. eliminates its trade-restrictive measures against Canada. The countermeasures will not apply to U.S. goods that are in transit to Canada on the day on which these countermeasures come into force", stated the Canadian government.
The impact is estimated at 16.6 billion Canadian dollars, a sum representing the value of 2017 Canadian exports affected by the U.S. measures. Beef and other bovine products are subject to a 10% tariff if they are going to be sold inside Canada.
The National Cattlemen's Beef Association responded by asking both governments to remember that the two North-American countries are allies and "we rely on each other for future economic prosperity".
This is the second blow that the US administration and the meat industry are receiving it inside the NAFTA trade deal, after Mexico has adopted countermeasures on several products originating from the US, including pork. In the first phase, Mexico has imposed tariffs of 10% for US pork but those are about to grow at 20% starting July 5.
(Photo source: Farm Futures)
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