Canada seeks $3 billion in COOL retaliation
Canada announced that it will seek $3 billion per year in retaliatory measures (tariffs) against US exports to Canada as a result of the recent World Trade Organisation decision on country-of-origin labeling.
National Hog Farmer reports that Gerry Ritz, minister of Agriculture and Agri-Food, said, "The WTO has ruled that the United States is out of options and out time. The only way for the United States to avoid billions in immediate retaliation is to repeal COOL. Our government will continue to stand on the side of Canadian farmers and ranchers, and we will continue to protect all hardworking Canadians throughout this retaliatory process."
Canada released a list last year of possible US products that would be targeted for tariffs. They include pork, beef, ethanol, apples, wine, wooden office furniture, mattresses, etc.
Mexico will be requesting $653 million per year. The WTO Dispute Settlement Body will consider Canada and Mexico's requests on June 17. Last month the WTO ruled for the fourth and final time against the US COOL requirements. The House of Representatives will vote Wednesday on legislation to repeal COOL.
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