Tag Archives: trade war
Trump to pause promised tariffs for 30 days after speaking with Trudeau
Prime Minister Justin Trudeau said Monday U.S. President Donald Trump will hold off on levying tariffs on Canada for at least 30 days after Canada made a series of commitments to improve security along the border. The country can let out a collective sigh of relief — at least for now. To get Trump to shelve his punishing tariffs, Trudeau told him Canada is pressing ahead with a $1.3-billion border security plan that includes reinforcing the 49th parallel with new choppers, technology and personnel and stepping up its co-ordination with American officials to crack down on Trump’s stated priorities: illegal drugs and migrants. Trudeau said, all told, there will be 10,000 front-line personnel working along the border as part of a push to make it safer. 4 Videos, links, more, >>CLICK TO READ<< 17:49
Danielle Smith: How Team Canada can overcome Trump tariffs
Like most Canadians, I was very disappointed with U.S. President Donald Trump’s decision to place tariffs on all Canadian goods. This decision will harm both Canadian and American consumers, workers and businesses alike, and strain the historic and important friendship between our two nations. Canada has responded with counter-tariffs of our own on specific U.S. imports that Canadians can generally purchase domestically or source from non-U.S. suppliers. Although I understand the need for this proportionate response, make no mistake, a tariff war with the United States will hurt millions of Canadian families, workers and businesses. As premier of Alberta, I am calling on my fellow premiers, the prime minister and all of our national leaders to de-escalate the rhetoric as much as possible and look to diplomacy and advocacy as our primary tool to resolve this conflict. more, >>CLICK TO READ<< 09:46
Trump announces tariff talks with Canada, Mexico as global stocks slump
US President Donald Trump said he will discuss the punishing tariffs he has levied on Canada and Mexico with both countries on Monday, as markets sank on fears over the impact on the global economy. The 25 percent duties — footed by American companies importing from Mexico and Canada — sent European and Asian stocks slumping at the open Monday. The Mexican peso and Canadian dollar also sank against the greenback, while oil jumped despite Trump placing the levy on Canada’s energy imports at 10 percent to limit a spike in fuel prices. more, >>CLICK TO READ<< 08:12
Trudeau hits back at the U.S. with big tariffs after Trump launches a trade war
Prime Minister Justin Trudeau announced late Saturday the federal government will hit back against the U.S. after President Donald Trump launched a trade war this weekend with punitive tariffs on all Canadian goods. Trudeau said Canada won’t stand for an attack from a country that was supposed to be an ally and friend. Ottawa will immediately levy retaliatory tariffs on a whole host of American goods as payback for Trump’s attempt to wreck the Canadian economy, Trudeau said. To start, Canada will slap 25 per cent tariffs on $30 billion worth of American goods coming into Canada as of Tuesday. The tariffs will then be applied to another $125 billion worth of American imports in three weeks’ time. Trudeau said there is more non-tariff trade action coming to try to force Trump’s hand and get him to call off the hostilities. Videos. more, >>CLICK TO READ<< 07:11
End to lobster war with China could save Australia’s fishermen
In this part of the world, the small, spiny, clawless western rock lobsters — commonly known in Australia as crayfish — play a starring role on seafood platters. “It’s our busiest time of the year,” said James Paratore, a fisherman who will be among those selling the lobsters from the back of his boat on Monday with his father Joe in Fremantle, near Perth. While trade in the local delicacy picks up over the festive period, the fishing industry has struggled since losing its biggest customer by far: China. Four years ago, exports to the lucrative Chinese market were sealed off by a trade war. Now they are in a cautiously celebratory mood after Beijing confirmed on Friday its trade ban on Australian rock lobsters had officially been lifted. Photos, more, >>CLICK TO READ<< 06:54
Trade war, Covid and now Ukraine invasion eat into Alaska seafood sales
First a trade war, then a battle against an infectious virus and now a real war are all affecting Alaska seafood exports. Shipments to China fell from as high as 30% of Alaska’s total seafood export value in the 2010s to 20% in 2020. “The U.S.-China trade war has displaced $500 million of Alaska seafood,” And though people bought more seafood to prepare at home during the COVID-19 pandemic, sales to restaurants and food services fell by 70%, Woodrow said. The food service market “still hasn’t fully recovered.” The Alaska product at risk in Russia’s invasion of Ukraine is pink salmon roe. Eastern Europe is a major buyer of the product, he said. “It’s a regional preference.” Alaska in 2021 shipped to Ukraine about $20 million of pink salmon roe,,, >click to read< 11:37
Chinese buyers snap up Maine’s lobster haul
Undeterred by biting winds as the temperature hovers around freezing, Maine’s lobstermen haul their traps out of their pickup trucks and onto their boats. It is shortly after dawn in the coastal town of Ogunquit, the start of another working day that will last about 12 hours. The tourists have gone and the “summer folk” have fled to the warmer climes of Florida. In Ogunquit’s Perkins Cove, a red icebreaker has been readied for the winter months, when it will make sure the lobstermen can reach lucrative fishing grounds in the Atlantic. >click to read< 07:14
A “heavy mental impact” – Tasmania’s rock lobster industry suffers in trade war
Beijing cancelled the China Australia strategic economic dialogue this week, effectively ending trade relations between the two countries. For Tasmania’s rock lobster fishers this trade war is real and destroying their livelihoods and businesses in less than 12 months. Lobster fisher Kane Ebel said there was a “heavy mental impact” to the trade war. “When you get out of bed in the morning and you’ve got big debts on your boat and your house and effectively can’t go to work, it’s got to take a toll,” he told Sky News. >click to watch< 18:48
Australian Lobster Sector Claws Back Trade After China Ban
Australia’s rock lobster exports are worth half a billion US dollars a year — and in normal times, 94 percent of them go to China. But all that changed a few weeks ago, when Beijing imposed a near-total import ban on lobster, part of a broader politically charged “shadow trade war”. “It has affected us drastically,” third-generation fisherman Fedele Camarda told AFP. “Our income has been reduced considerably.”,,, local authorities recently changed legislation to allow commercial rock lobster fishers to sell large quantities from the back of their boats,,, >click to read< 10:40
Lobsters Are A Prawn In The Trade Wars
American lobster and lobster fishers got caught in a trade war being fought on multiple fronts. The United States is battling China on one major front and the European Union (EU) on another, but as is typical in trade wars, it’s lobster production in another country that’s winning the war. In this case, Canada. If that weren’t enough, tariffs are the root cause of the trade war, but not in the way you might think. China’s tariffs on U.S. lobsters are in retaliation for President Trump’s China tariffs over intellectual property. The EU didn’t raise its tariffs on U.S. lobster, but rather lowered them on Canadian ones as part of their free trade agreement. In other words, U.S. lobsters were never meant to be the target of either Chinese or EU,,, How the lobster trade war started isn’t nearly as interesting as the efforts to stop it. >click to read< 10:28
Despite tariff impacts, Maine lobster market remains robust
Just over eight months since the start of a trade war between China and the United States, the Maine lobster industry is still coping with the affects of a 25 percent tariff on their goods.,,, The market, which had seen explosive growth in the past few years, suddenly dried up overnight, for reasons completely out of the hands of Maine companies shipping live lobsters to China. Even with the challenges, however, companies that focused on live lobster shipments have managed to make up ground by re-focusing efforts in other areas. >click to read<13:44
China’s fish
The national seafood media was Monday atwitter with speculation China might impose tariffs on American seafood, and Alaska Commissioner of Commerce Mike Navarre was trying to spin the state’s proposed liquified natural gas (LNG) project as some sort of shelter against a looming U.S.-China trade war. “For now, China appears to be leaving Alaska seafood alone,” added reporter Liz Raines. There was no “appears” about it.,, Why? Because China – sometimes with the help of North Korean serfs – has turned Alaska fish into a moneymaker for China. >click to read< 14:16
