The effective U.S. tariff rates on Canada and Mexico in June were 2.5 per cent and four per cent, respectively, according to a report by Oxford Economics, which argued both countries could benefit from shifts in supply chains as a result of the global trade war. (The Logic)
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The effective U.S. tariff rates on Canada and Mexico in June were 2.5 per cent and four per cent, respectively, according to a report by Oxford Economics, which argued both countries could benefit from shifts in supply chains as a result of the global trade war. (The Logic)
Talking point: That compares to 15 per cent for Japan, 13 per cent for South Korea and about eight per cent for both the United Kingdom and the European Union, which all recently struck agreements with President Donald Trump. The report said the various carve-outs and layers of sector-specific tariffs means the “headline rates” Trump has slapped on countries around the world do not always match what is actually happening at the border. That is especially the case in Canada and Mexico where goods moving through the North American trade pact remain exempt from broad-based duties Trump linked to concerns over fentanyl.
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