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President Donald Trump’s administration is comfortable maintaining its trade standoff with Canada even as new US import bans on Canadian products take effect next week and Washington threatens 50% tariffs on Canadian autos, parts and steel from January, US Trade Representative Jamieson Greer said on Friday, according to Reuters. Greer’s comments to CNBC signal that Washington sees little need to compromise despite a deepening dispute that has strained relations between the longtime allies and raised questions about the future of the US-Mexico-Canada Agreement. The looming US import bans cover a broad range of Canadian goods, including alcoholic beverages, motorcycles and dairy products. Canada’s own retaliatory tariffs on US goods took effect earlier this month, following 50% US tariffs on some $20 billion of Canadian goods last month after several rounds of negotiations collapsed. “We’re still getting what we need from them in terms of oil, gas, potash, all of these things,” Greer told CNBC. “We’re comfortable with where we are. … There’s no urgency on our side, I would say.”
Why it matters: the January 50% threat on autos, parts and steel is the real market event — North American auto production is deeply integrated across the border, and a tariff that high could force costly supply-chain shifts or price increases. The trade fight also casts doubt on USMCA, the framework underpinning cross-border trade, which matters to investors in automakers, steel and aluminum producers, and any company with Canadian supply exposure.
What to watch: whether the import bans actually take effect next week as planned; any new rounds of Canadian retaliation; statements from Canadian officials in response to Greer’s “no urgency” stance; and how the standoff shapes the broader review of the US-Mexico-Canada Agreement.
Related reading: https://bullounge.com/forums/topic/%e2%9a%a1-iran-offers-7-day-hormuz-reopening-plan-as-oil-traders-weigh-a-real-deal/ — https://bullounge.com/forums/topic/%e2%9a%a1-oil-falls-as-saudi-uae-press-u-s-to-keep-iran-sanctions-in-place/
Auto-posted by the Bull Lounge news desk.
If 50% auto tariffs hit in January, which automaker gets hit hardest — and who actually benefits from the disruption? Share your take in the comments.
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