The United States has proposed to levy new duties for the import of steel and aluminum to America. Canada, the closest neighbors to the US are crying foul.
The finance minister of Canada Bill Morneau has said that he is preparing his government to retaliate against the US if they do not exempt Canada from the proposed new duties.
The major portion of the steel and aluminum that comes to North America is from Canada. The Canadian Finance Minister says that he is looking for the US to offer them the same trading back and forth as before.
He says that his government will be firm on this. They are going to say to the US that the new tariff is not an acceptable option and that too on commodities like steel and aluminum.
The US President Donald Trump proposed a new tariff last week. His proposal was that there will be a 25% tariff on imported steel and at 10% tariff on imported aluminum. The liberal government wants to inform the US about its position and does not want to be included in this new tariff scheme.
The FM Bill Morneau has already spoken to treasury secretary Steven and given him his point of view on this matter.