Que. finance minister: U.S. tariffs already affecting manufacturers

Wednesday August 22, 2018
Written by The Canadian Press
August 22, 2018 - Quebec's finance minister says the protectionist measures of the Trump administration are already being felt on the ground in the province.

Carlos Leitao says companies in the manufacturing sector that sell or buy steel and aluminum – which have been hit by 25 and 10 per cent tariffs respectively – are facing negative impacts.

The minister says he's also concerned about a slowdown in private investment in Quebec because many may wait due to a concern about ongoing access to the U.S. market.

U.S. President Donald Trump's statements and actions are also causing uncertainty around the North American Free Trade Agreement (NAFTA), which until now has been a guarantee of market access in Canada, Mexico and the U.S.

While tariffs are a form of intimidation to obtain concessions in NAFTA renegotiations, Leitao says he is not worried about supply management because is not the main U.S. target even if Trump has complained publicly about the Canadian agricultural issue.

The provincial minister says changing supply management for dairy and other sectors is "not negotiable."

News from © The Canadian Press Enterprises Inc. 2018

Add comment


Security code
Refresh

Subscription Centre

 
New Subscription
 
Already a Subscriber
 
Customer Service
 
View Digital Magazine Renew

Events

SPS IPC Drives
November 27-29, 2018
AI World Conference & Expo
December 3-5, 2018
Motor & Drive Systems 2019
January 23-24, 2019
ARC World Industry Forum
February 4-7, 2019
Hannover Messe 2019
April 1-5, 2019

We are using cookies to give you the best experience on our website. By continuing to use the site, you agree to the use of cookies. To find out more, read our Privacy Policy.