Trump Imposes 50 Percent Tariffs on Many Canadian Goods, Exempting Oil and Potash

President Donald Trump signed three proclamations Monday imposing an additional 50 percent tariff on a broad list of Canadian goods. @zerohedge reported that the White House said the action targets what it called continued discrimination against U.S. commerce in dairy, alcohol and auto exports.

The tariffs fall under Section 338 of the Tariff Act of 1930, which permits duties of up to 50 percent on countries found to discriminate against American commerce. The duties take effect in 30 days. Oil, potash, fish and critical minerals remain exempt, along with goods already subject to national-security tariffs such as steel and many auto parts.

The covered list includes milk, cream, alcohol, hockey equipment, food products, construction materials, clothing, furniture, technology and car parts. The automobile proclamation alone lists 18 pages of eligible goods. All but two Canadian provinces and territories have halted the purchase, distribution or retailing of American alcoholic beverages, a senior administration official told @zerohedge.

-Mexico-Canada Agreement. Canada and China are the only two countries that have retaliated against Trump's earlier tariffs, according to the Associated Press as cited by @zerohedge.