Tag: NAFTA

Canada To Retaliate ‘Dollar For Dollar’ After U.S. Slaps 10% Tariff On Aluminum | CBC News

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Ottawa will impose retaliatory tariffs on U.S. goods in response to President Donald Trump’s decision to restore a 10 per cent tariff on Canadian aluminum imports. Prime Minister Justin Trudeau and Deputy Prime Minister Chrystia Freeland announced the measures Thursday evening hours after Trump said he would impose the tariffs during a campaign speech at a Whirlpool factory in Ohio, citing national security concerns. Freeland, in a statement, said Canada “intends to swiftly impose dollar-for-dollar countermeasures” in response. Read full story here: Canada To Retaliate ‘Dollar For Dollar’ After U.S. Slaps 10% Tariff On Aluminum…

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New Free Trade Deal With U.S. Will See Canada’s Duty-Free Limit Raised To $150 From $20 | CBC News

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Retailers say they are OK with new trade rules that will allow Canadians to buy more from the United States duty free — because dire alternatives that would have been worse never came to pass. One aspect of the new U.S.-Mexico-Canada Agreement announced over the weekend is an increase in the so-called de minimis threshold for duty-free shopping — the amount that Canadians can buy from a store in the U.S. and import to Canada without having to pay a duty. Under the old rules, Canada’s limit was $20. That’s much less than…

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Loonie Soars In The Wake Of The New Trade Deal With The U.S. And Mexico | CTV News

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The loonie traded higher at 78.13 cents US compared with an average of 77.25 cents US on Friday. While most economists have been expecting the Bank of Canada to raise its key interest rate target later this month, the trade negotiations have been a key uncertainty. The central bank had made a point of saying it was closely watching the NAFTA talks and other trade policy developments, which could hurt the economy. Read full story here: Loonie Soars In The Wake Of The New Trade Deal With The U.S. And Mexico…

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Loonie Could Jump Up To 82 Cents US If Trade Talks Are Successful, Says Economist | CBC News

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Even with a resilient, if not strong, Canadian economy, the loonie has failed to gain momentum this year — losing more than four per cent against the U.S. dollar — as trade uncertainty ate away at its “fundamental” value. But that could all change if a trade deal is struck between Canada and the U.S. soon, according to James Orlando, senior economist at TD Economics. He’s calling for the Canadian dollar to jump to as much as 82 cents US in the near term if trade talks between the two countries are successful. That’s a…

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Free Trade Talks Could Finally See Canada Raise De Minimis Levels For Duty-Free Online Shopping | CBC News

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One concession Canada seems likely to make in the current round of free trade discussions with the U.S. and Mexico is on the level of duties that Canadians must pay when shopping online — and it’s one where Canadian consumers could end up be happy with the result. Known as the de minimis threshold, it’s the level at which consumers have to pay duties and taxes on imported goods, whether through bringing items back on a trip or ordering them online and having them delivered by mail or courier. In the United…

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Is The Loonie The ‘Most Hated Currency’ In Markets Right Now? | CBC News

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The Canadian dollar has seen its share of volatility this year as trade tensions between the U.S. and Canada reached a fever pitch over the weekend. The currency is down more than five per cent against the U.S. dollar since hitting its highest point this year at the end of January. Even as it moved higher on Wednesday after the U.S. Federal Reserve’s decision to raise interest rates, Mark McCormick, head of North American foreign exchange strategy at TD Securities, said the loonie “is probably the market’s most hated currency now,” based on his discussions with investors.…

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Rise In Duty-Free Allowance Could Cost Hundreds Of Thousands Of Jobs: Study – Business – CBC News

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Canada’s retail industry is warning that raising the duty-free allowance for cross-border shipments could lead to hundreds of thousands of job losses and cut billions of dollars from the Canadian economy. The numbers come from a Retail Council of Canada-commissioned PwC study out Friday that shows the potential fallout if Canada agreed to requests from U.S. lawmakers to increase the duty-free allowance from $20 to $800 as part of NAFTA talks. “It has very, very significant implications for not only our sales, but for employment in the industry, for Canadian…

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Canada’s NAFTA Negotiators Must Do More To Protect Canadians’ Data From U.S.: Privacy Experts – National | Globalnews.ca

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OTTAWA – Concern is growing that federal negotiators aren’t doing enough to protect the personal information of Canadians from prying U.S. interests at the North American Free Trade Agreement negotiations. Information technology companies and other digital economy insiders say federal negotiators appeared unprepared during this week’s third round of talks to counter an American proposal that would forbid the storage of sensitive data in computing facilities on Canadian soil. Some warned that Canada appeared soft on the issue and might concede to the American demands in the interest of horse-trading…

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Liberalizing Cross-Border Online Sales Is One NAFTA Request To Which Canada Should Yield: Neil Macdonald – CBC News | Opinion

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The lobbyist on the other end of the phone laughed. I’d just asked a question about Canada’s so-called de minimis threshold, a subject which, even in wonky Ottawa, provokes glances at heaven and condescending grins. As in: “Oh, that again. When will you understand that no one understands it and nobody cares?” Well, that might be true. Canadian media dislike complex trade issues, and Canadian consumers are largely a supine, uninformed, apathetic bunch, inclined to do whatever they’re told and behave like the milk cows they’re treated as, by government…

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Trump Asked Ottawa To Drop Duties On e-Commerce Under NAFTA. Canadians Should Cheer, Say Experts – National | Globalnews.ca

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Canada has been fretting over U.S. President Donald Trump’s objectives for the upcoming NAFTA renegotiations. The administration published its wish list on Monday, ahead of the Aug. 16 date set for the start of the trade talks. But at least one of those asks should have Canadian consumers cheering. The U.S. requested that Ottawa raise the value of goods that Canadians can buy online without paying import duties and taxes to US$800 (C$1,011 ), up from its current level of C$20. That would be “unambiguously good for consumers,” Daniel Schwanen, vice-president…

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