Tax-News.com: Canada Opposed To New US Tariffs

by Mike Godfrey, Tax-news.com, Washington

09 February 2017

Canadian Trade Minister Chrystia Freeland has said that her Government would be “strongly opposed to any imposition of new tariffs between Canada and the United States.”

Freeland undertook a two-day visit to Washington, D.C. from February 7 to 8. She met with her counterpart, the new US Secretary of State Rex Tillerson, House Speaker Paul Ryan, and the chairs of the Senate committees on armed services and foreign relations.

Speaking to reporters after her meeting with Tillerson, Freeland said: “I did make the point that Canada will have no position on the [US Government’s] tax reform plan or the border adjustment tax idea until it is fully formed and it is a concrete proposal. But I did make clear that we would be strongly opposed to any imposition of new tariffs between Canada and the US, that we felt tariffs on exports would be mutually harmful.”

She added that “if such an idea were ever to come into being, Canada would respond appropriately.”

US President Donald Trump has promised “massive” tax cuts for American companies. He has however also threatened a “major border tax” of up to 35 percent on imports from US multinational companies that move their production facilities outside the country.

(Why?)

Published at Thu, 09 Feb 2017 00:00:00 +0000

Posted by:Boban