USTR Greer: Canada is giving other countries better trade deals
- Canada is giving other countries better trade deals
- Canada trade action is tailored
- We have been asking Canadians for a year to remove retaliation to Trump's tariffs.
- Have good relationship with Canadian counterparts.
- On USMCA Trump in some ways have already taken related actions
- Trump wants to see deficit to go down with Canada
- Trump wants to see more manufacturing in the US
- On Europe, says that there has been a agreement that there not be subsidies. Sites that Airbus gets unfair loans at a disadvantage to Boeing
- On AiI, China. Number of US agencies are looking at this.
- We are concerned that China is distilling our AI models.
- On AI, China. Not against one kind of standard versus another
- It is not new to have trade issues with Canada.
- Going to keep talking to Canadian counterparts. Have not cut off talks
- Need outcomes that are good for US businesses.
Overnight, the Trump administration significantly escalated the U.S.-Canada trade dispute by imposing a 50% tariff on a broad range of Canadian imports under Section 338 of the Tariff Act of 1930, marking the first time the law has been used. The tariffs are scheduled to take effect in 30 days (August 19), leaving a window for negotiations between the two countries.
- Tariff rate: 50% on a wide range of Canadian goods.
- Products targeted: Many consumer and manufactured goods, including:
- Wine and other alcoholic beverages
- Furniture
- Clothing and apparel
- Sporting goods, including hockey equipment
- Numerous other manufactured products
- Major exemptions:
- Energy products
- Potash
- Fish
- Critical minerals
- Reason cited by the administration:
- Alleged discriminatory Canadian policies toward U.S. automobiles.
- Canadian restrictions and tariffs on U.S. dairy products.
- Provincial actions against U.S. alcohol products.
- Canada's retaliation against earlier U.S. trade measures.
Canadian Prime Minister Mark Carney criticized the move as harmful to workers and consumers on both sides of the border and argued it violates the spirit of the North American trade agreement. He said Canada remains prepared to negotiate but also left open the possibility of further retaliatory measures if talks fail.
The USDCAD is ticking back to the upside and looks toward the falling 200 hour MA after breaking back above its 100 hour moving average during yesterday's trade (currently at 1.4041). The 200 hour moving average comes in at 1.40858. Moving above would give the buyers more confidence for more upside momentum.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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