Trade War? Canada Proposes Retaliatory Tariff On U.S. Hardwood Plywood
Posted On
June 06, 2018
On May 31, the U.S. announced tariffs of 25% on imports of select steel products and 10% on imports of select aluminum products from Canada. Canada responded by imposing surtaxes or similar trade-restrictive countermeasures on approximately C$16.6 billion in imports of steel, aluminum, plywood, and other U.S. products. Two HS codes of plywood, 4412.39 and 4412.99.90, are on the list for a 10% surtax. Annually, the U.S. exports $83 million of hardwood plywood to Canada and imports $200 million from Canada.
On Twitter, President Trump criticized Canada's softwood lumber and agriculture policies as examples of how the U.S. is being treated poorly by Canada.
Resources:
- Department of Finance Canada: Notice of intent to impose countermeasures action against the United States in response to tariffs on Canadian steel and aluminum products
- Ministère des Finances Canada: Avis d'intention d'imposer des contre-mesures envers les États-Unis en réponse à l'imposition de tarifs sur les produits canadiens d'acier et d'aluminium
- Financial Post: Trump criticizes Canada's lumber sector after imposing steel, aluminum tariffs
- TRADE BALANCE BETWEEN THE U.S. and CANADA in HARDWOOD VENEER and PLYWOOD