Canada hoping its own tariff threat will prompt U.S. climbdown: Morneau
WHISTLER, B.C. — Finance Minister Bill Morneau says he’s hopeful the threat of retaliation against U.S. trade measures will convince the Trump administration to back down from the steel and aluminum tariffs it has imposed on its G7 allies.
The tariffs have landed just as Morneau presides over a G7 finance ministers’ meeting in Whistler, B.C., where the event’s pre-set agenda has been overtaken by talk of protectionism and fears of a protracted trade war.
Morneau said Friday that the federal government isn’t quite ready to discuss support or potential bailout packages for those Canadian sectors caught in the crossfire.
Instead, he argued, the focus now is to use the threat of retaliatory measures as a way to make the U.S. reconsider its own tariffs before any negative economic impacts actually materialize.