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U.S. Treasury to respond to Canadian tariffs
U.S. Treasury Secretary Steven Mnuchin stated that imposing a 50% tariff on certain Canadian imports is a reciprocal measure in response to Canada's trade actions against American products, particularly in the dairy and alcohol sectors. This comes after the U.S. announced it would impose approximately $20 billion in tariffs on Canadian goods, retaliating against Canadian tariffs on autos, steel, and aluminum, as well as high tariffs on dairy products. Mnuchin claimed that Canada is engaging in discrimination against American dairy products, citing the removal of American alcoholic beverages from Canadian markets, considering this a response to Canada's practices against U.S. companies.
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