Canada to Impose Tariffs on US, Challenge at WTO
Canada will impose retaliatory tariffs on C$16.6 billion ($12.8 billion) worth of U.S. exports and challenge U.S. steel and aluminum tariffs under the North American Free Trade Agreement and the World Trade Organization (WTO), Canadian Foreign Minister Chrystia Freeland said on Thursday.The Canadian tariffs are set to go into effect on July 1, 2018, and stay in place until the U.S. lifts its own measures, Freeland said, hours after the United States said it would impose tariffs on aluminum and steel imports from Canada…
Canada PM Warns of Market Disruption from US Steel Tariffs
Canada's Prime Minister Justin Trudeau said on Friday any U.S. tariffs on steel and aluminum imports would cause significant disruption to markets on both sides of the border, but he was confident his government could defend the industry. "Any disruption to this integrated market would be significant and serious. But that is why we were impressing upon the American administration the unacceptable nature of these proposals that are going to hurt them every bit as much as they are going to hurt us…
Iraq: OPEC Should Reduce Output Up Two Million Barrels
Oil cartel OPEC should reduce production by between 1.5 million and 2 million barrels per day (bpd) when it meets next week and shun U.S. calls for a smaller cut, Iraqi Oil Minister Amir Muhammed Rasheed told Reuters. "What we are trying in the meeting of 17th of January in Vienna is to reduce production so that we get back to the balance between supply and demand. And we think something like 1.5 to 2 million barrels a day would be a good figure," Rasheed said. "We are not in any way affecting the world economy or trying to create a recession; rather, we want to defend normal, fair prices," Rasheed said from Baghdad. The minister criticized U.S.
