Canada ups trade ante with tariffs

Canadian tariffs on many U.S. imports take effect this week to the tune of $12.5 billion. The newly taxed products include steel and iron, as well many smaller categories like detergent, ketchup, and pizza. U.S. President Donald Trump on Sunday threatened to fire the next shot in the mounting trade war. He wants to wait until after November’s midterm elections before agreeing to a new NAFTA trade agreement with Canada and Mexico. Sen. Pat Toomey, R-Pa., said the tariffs were bad news for the people of his state: “With Canada, we have a trade surplus. We have a surplus even in steel. So why we should punish my constituents with a tax when they import these small amounts of Canadian steel makes no sense.” The real problem, Toomey said, is China’s unfair trade practices.