Quote:
Originally Posted by direwolf
Also, according to CBC, Canadian officials have had zero clarification from the WH on whether or not there might be an exemption on the extra 25% for USMCA. At this point I’m thinking we should just pull a Mexico and not retaliate at all, since he’ll likely back down again within a week.
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I work with a lot of different Steel Fabricators. They're unanimous in not wanting broad based counter tarrifs on the US products many of them need.
As an example what most of the public refers to as I beams (and no they're not I beams)...those are no longer made in Canada. They're only produced in the United States, China, and sometimes from Korea, and occasionally the really heavy ones can come from Luxemburg of all places. In many cases owners do spec that the Chinese products are not permitted. So a counter Tariff on those now increases the cost for them, and it's pretty much a staple in Steel Construction. There are programs to eventually recover some of these costs, but it's a process that takes time, and a fair bit of administrative work to apply for. So it's a double whammy in that a lot of them can no longer sell to the US and are losing that revenue stream, but they're seeing their cost go up on a product that is essential to their business.