Canada unveils final list of retaliatory tariffs against US
Chrystia Freeland, the Canadian Foreign Minister says:
- target items like metals, chocolate, dishwashers
- Steel to face 25% tariff, aluminum and consumer goods to face 10% tariff
- Canada terrorists remain in place until US taps are canceled
- confirms retaliatory tariffs on C$16.6B of US products
- tariffs on US proxy take effect on July 1
- Canada also expected to announce aid package for industries, workers affected by US measures
- Canada won't escalate on tariff dispute
- Canada to give up to C$2B of a to steel and aluminum industry
- steel and aluminum aid includes job finds, financing
The USDCAD has moved lower in trading today and in the process is down testing the broken 61.8% of the move down from the May 2017 high at 1.3131. The swing high from March is just below that level at 1.3124. Do buyers come in against the level? I would expect some nibbling as Trump fires back.
