Dairy farmers in Canada are rich
Trade war feared : Trade dispute between the US and Canada intensifies
The trade disputes between the neighbors USA and Canada threaten to escalate. "Canada is very rude to the US," said US President Donald Trump on Tuesday in Washington when signing a decree on agricultural policy. When asked if he was afraid of a "trade war" with Canada, Trump said, "No."
The US had previously announced that it would impose a 20 percent penalty on Canadian softwood imports. US Secretary of Commerce Wilbur Ross accused Canada of violating trade agreements. It is about the allegation of inadmissible subsidies for the Canadian timber industry.
The Canadian government sharply denied the allegations that they were baseless and unfounded. The move will increase costs for American families who want to build or renovate homes. The Canadian government will vigorously defend the interests of the Canadian softwood industry. Ross admitted the cost could go up. According to the Department of Commerce, the United States imported softwood from Canada worth $ 5.6 billion last year.
Canada is the USA's most important trading partner after China. Last year, however, the US trade deficit with Canada was more than $ 11 billion.
Trump considers trade deal a "disaster"
There is currently a dispute between the USA and Canada over the trade in dairy products. US President Donald Trump accused Canada on Twitter on Tuesday of making the dairy farmers' business in the US very difficult. "We won't let that sit on us."
The US dairy industry had accused Canada of bringing more and more cheap milk to the US as part of a new pricing policy. In addition, Canada on the other hand is blocking the import of American milk. This leads to considerable economic difficulties for US dairy farmers. Canada denied the allegations.
The background to the trade disputes is also the North American trade agreement NAFTA. The USA had already announced that it would renegotiate the agreement with Canada and Mexico. Nafta was a "disaster", Trump had recently criticized again. American jobs are at the expense.
Faced with a huge trade deficit, the US has also accused key economic partners such as China and Germany of unfair trade practices. Trump had already threatened punitive tariffs, for example on cars that are not made in the United States. Just last weekend, US Treasury Secretary Steven Mnuchin reiterated criticism of open world trade at the IMF spring meeting in Washington. (dpa)
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