Canada: The trade relationship with our neighbors to the north is disintegrating. Negotiations collapsed on August 21st. Since then, the two sides have been assessing reciprocal tariffs.
Canada imposed 15%, 25% or 50% tariffs on a host of US goods, including dairy items, golf clubs, appliances, clothing, steel, aluminum and farm equipment. A Canadian trade tribunal ruled US canned vegetable imports hurt their domestic food sector. And, Canadian Prime Minister Mark Carney is pursuing admission to the European Union as an associate member.
The US has banned $1B in Canadian goods from the US market, including dairy products, alcohol and motorcycles. Additionally, the US has banned Canada from participating in US General Services Administration contracts.
China.: There is thawing in this trade relationship. After a meeting between President Trump and Chinese President Xi Jinping last month, the two nations have agreed to reduce tariffs. China will reduce tariffs on 1,619 items, including agricultural commodities, fish/seafood, forest products, medical equipment and hair/personal care products. The US will reduce tariffs on 77 goods categories, including tableware, fireworks, toys, microwaves and Christmas decorations.
The broader bilateral trade truce that was due to expire on November 10th is now extended to January 10th. There was no specific mention of the Chinese ship tax, which was due to resume on November 10th. It is expected it will also be extended to January 10th.
Ireland: The tariff on Irish Whiskey has been removed. Cheers!