{"id":3046,"date":"2025-03-07T21:27:04","date_gmt":"2025-03-07T21:27:04","guid":{"rendered":"https:\/\/inhealthyzone.com\/?p=3046"},"modified":"2025-03-07T21:27:04","modified_gmt":"2025-03-07T21:27:04","slug":"trump-targets-canada-with-new-tariffs-calls-for-250-dairy-tax","status":"publish","type":"post","link":"https:\/\/inhealthyzone.com\/?p=3046","title":{"rendered":"Trump Targets Canada with New Tariffs, Calls for 250% Dairy Tax"},"content":{"rendered":"

(CNN<\/a>) – A day after offering Canada a one-month reprieve on punishing, virtually across-the-board 25% tariffs, President Donald Trump has threatened new tariffs as soon as Friday on Canadian lumber and dairy products. It\u2019s yet another twist in a serpentine trade policy that seems to shift on an hourly basis.<\/strong><\/span><\/p>\n

\u201cCanada has been ripping us off for years on lumber and on dairy products,\u201d Trump said in an Oval Office address Friday, citing Canada\u2019s roughly 250% tariff on US dairy exports to the country. Trump said America would match those tariffs dollar-for-dollar.<\/p>\n

\u201cWe may do it as early as today, or we\u2019ll wait until Monday or Tuesday,\u201d Trump said. \u201cWe\u2019re going to charge the same thing. It\u2019s not fair. It never has been fair, and they\u2019ve treated our farmers badly.\u201d<\/p>\n

Canadian trade minister Mary Ng pushed back on Trump\u2019s comments, saying his claim that Canada was \u201cripping off\u201d the United States was \u201cnot true.\u201d<\/p>\n

Ng said that Trump\u2019s proposed reciprocal tariffs on dairy and lumber are \u201ccompletely unjustified.\u201d<\/p>\n

\u201cI learned about it just as I was walking into this press conference,\u201d Ng told reporters. \u201cThese tariffs if imposed in that order of magnitude is completely unjustified.\u201d<\/p>\n

Trump\u2019s announcement gave investors, businesses and consumers another strong dose of whiplash. Just one day earlier, on Thursday, Trump announced a one-month pause on all tariffs on Canada and Mexico on products that comply with the US-Mexico-Canada free trade treaty, known as the USMCA. That had, at least temporarily, given many industries, especially autos and agriculture, a major sigh of relief.<\/p>\n

On Friday Trump said more \u201cchanges and adjustments\u201d on tariffs should be expected in the future.<\/p>\n

\u201cThere\u2019ll always be some modifications,\u201d Trump said from the Oval Office. \u201cIf you have a wall in front of you, sometimes you have to go around the wall instead of through it.\u201d<\/p>\n

\"\"
Logs are stacked at a sawmill in Revelstoke, British Columbia, Canada, in August 2023. Chris Helgren\/Reuters<\/figcaption><\/figure>\n

Stocks, which were lower to start the day after a mixed bag of a jobs report, initially fell after Trump\u2019s tariff threat but rose after Federal Reserve Chair Jerome Powell offered a mostly positive outlook on the economy. The Dow was up about 200 points, or 0.4%. The broader S&P 500 rose 0.4%, and the tech-heavy Nasdaq was up 0.4% after falling into correction territory Thursday \u2014 a 10% decline from its most recent high.<\/p>\n

Markets have fallen deep into the red since Trump took office, with the Nasdaq leading declines. The S&P 500 is down about 3% since Inauguration Day, in large part because of economic uncertainty.<\/p>\n

\u201cThe market is having trouble digesting the multidimensional chess that Trump and his team are playing,\u201d said Michael Block, market strategist at Third Seven Capital. \u201cThis multidimensional chess game is not going well for the grand master. There may be a method to the madness. He might be trying to confuse world leaders. But the market is saying stop confusing us. we don\u2019t like this.\u201d<\/p>\n

Trump\u2019s threat on Friday added more uncertainty into an economy that has shown cracks in its foundation and could be in danger of slipping if businesses and consumers grow nervous about the administration\u2019s economic policy. Layoffs are mounting, hiring is slowing, consumer confidence is eroding and inflation is picking up again.<\/p>\n

Tariffs could worsen all of those factors.<\/p>\n

A dairy spat years in the making<\/strong><\/span>
\nCanada charges exorbitant tariffs on certain dairy products, including a tariff on milk that can be as high as 241%, much to the consternation of America\u2019s dairy farmers, who have complained for years that the border nation is treating them unfairly.<\/p>\n

In 2023, a trade dispute panel ruled in favor of Canada, arguing that the high import taxes did not violate the USMCA. Wisconsin Democratic Senator Tammy Baldwin lambasted the decision, arguing it was creating an undue burden on her state\u2019s dairy industry.<\/p>\n

\"\"
A barn cat looks over at cows as they wait to be milked at a dairy farm in Granby, Quebec, on February 5, 2025. Christinne Muschi\/The Canadian Press\/AP<\/figcaption><\/figure>\n

\u201cWisconsin dairy farmers work hard every day to bring world class products to market, and they deserve a level playing field with their global competitors,\u201d Baldwin said in the wake of the November 2023 decision. \u201cThis decision flies in the face of the agreement our country made with Canada and puts our Made in Wisconsin dairy products at a disadvantage.\u201d<\/p>\n

But Trump, who frequently complained about high dairy tariffs in his first term in office, did not negotiate more reasonable tariffs into the USMCA treaty, which he signed.<\/p>\n

Despite the grievances and the alarmingly high number, Canadian dairy is not a significant export, and a reciprocal 241% tariff on milk is unlikely to do significant economic damage to either country.<\/p>\n

Lumber tariffs threaten home affordability<\/strong><\/span>
\nTrump has been criticizing Canadian tariffs on US lumber for several weeks, claiming America should respond in kind. He has claimed America can do without Canadian lumber.<\/p>\n

An executive order Trump signed Saturday said America has an \u201cabundance of timber resources that are more than adequate to meet our domestic timber production needs.\u201d It\u2019s not quite that simple, industry experts argue: They warn tariffs could end up increasing lumber and building costs \u2014 and even push up housing prices for consumers.<\/p>\n

The United States has 300 billion trees, but economists and homebuilders caution that America does not currently have the industrial capacity to meet the demand and that placing a significant tariff on Canadian lumber imports could further exacerbate the ongoing housing affordability crisis.<\/p>\n

Lumber is a critical ingredient in the US homebuilding industry, and the United states sources about 30% of the softwood lumber it uses annually from Canada. Lumber imports from Canada are already subject to countervailing and anti-dumping duties of 14.5%.<\/p>\n

CNN\u2019s Alicia Wallace, Max Saltman and Laura Paddison contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"

(CNN) – A day after offering Canada a one-month reprieve on punishing, virtually across-the-board 25% tariffs, President Donald Trump has threatened new tariffs as soon as Friday on Canadian lumber and dairy products. 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