Boycott of US products in Canada: Demand drops rapidly

Following US President Donald Trump's decision to impose customs duties on Canada, sales of American products in Canadian markets have fallen significantly. Empire Company CEO Michael Medline noted that there has been a 'sharp decline' in the market share of products imported from the US.

Medline stated that 'the share of American products in total sales is decreasing rapidly.' Noting that customers are turning to Canadian products, Medline expressed that the company's sales rate for US products has fallen to levels lower than 12 percent. Medline said, 'Our customers prefer domestic products and are clearly expressing this demand.'

Pointing out that the customs duties imposed by the US on Canada have also negatively affected the supply chain, Medline made the following remarks:

''Our suppliers producing in the US are directly affected by these taxes. They may want to reflect the increased costs in prices. Some suppliers have started to test our stance on this issue.''

Trump threatened to increase the 25 percent additional tax he imposed on Canada to 50 percent. The US administration shared the information that this decision has been postponed 'for now'

ONTARIO THREATENS SANCTIONS AGAINST THE US

The US decided to impose a 25 percent additional customs duty on products imported from Canada and Mexico. The decision went into effect on March 4. Trump later announced that no taxes would be applied until April 2 to products covered by the United States-Mexico-Canada Agreement (USMCA). The US administration also put additional tariffs on steel and aluminum imports into effect on March 12.

Doug Ford, Premier of Ontario, Canada's most populous province, provided information that they would impose a 25 percent surcharge on electricity exports in response to the US customs duties. Ford said, 'We would not hesitate to increase this rate if necessary. We might even consider cutting off electricity entirely.' The Premier of Ontario emphasized that Trump is responsible for this trade war.

The White House warned Canada that Ontario's plans to cut electricity exports to the US could have 'serious consequences.' The US administration stated that this step could further strain trade relations between the two countries.

Ontario Premier Doug Ford

News Source: 12punto