Canada Slaps Sanctions on U.S. Imports

[Robbien]

The Canadian government said it will slap a 15 percent surtax on some U.S. products in retaliation for a lingering trade irritant. The retaliatory surtax will amount to C$14 million (US$11.6 million, €9 million) this year.

The announcement of the surtax on cigarettes, oysters and live swine from the United States came just as the European Union took a similar measure. Canada is joining countries from around the world protesting a U.S. trade measure known as the Byrd amendment, which the World Trade Organization has deemed illegal.

The Byrd amendment allows American companies to keep the proceeds that Washington collects in antidumping disputes, something Canada and other countries complain unfairly enriches their U.S. rival firms. "For the last four years, Canada and a number of other countries have repeatedly urged the United States to repeal the Byrd amendment," Canadian Trade Minister Jim Peterson said in a statement Thursday. "Retaliation is not our preferred option, but it is a necessary action. International trade rules must be respected."


The Canadian sanctions, which also cover certain types of fish, are to take effect May 1. The EU says it will slap duties of up to 15 percent, also on May 1, on such U.S. imports as paper, textiles, machinery and farm produce.

http://crm-daily.newsfactor.com/crmbusbrief/story.xhtml?story_title=Canada-Slaps-Sanctions-on-U-S--Imports&story_id=32169&category=crmbusbrief

[Tux]

1. $ falls more

How can our economy survive 4 more years of a party that deserve the jackass logo more than Dems?

[Village Idiot]

2. Perhaps if Canada grew some balls...

they would attempt something worthwhile, like enforceing Section 1205 of NAFTA and getting something done about the illegal softwood tarifs by way of a bilateral extraordinary commitee...this response seems to be just another Lieberal Party smokescreen, which will amount to almost nothing, in the end...