Yesterday, U.S. Treasury Secretary Biden said on the ABC program: "If the China-Canada agreement exceeds the published scope, China may also face penalties! Several months ago, the U.S. and Canada imposed high tariffs on Chinese steel products because of China's dumping practices, and Europe also took the same approach. Now, it seems that Kan has made a 180-degree turn. If China and Canada sign a free trade agreement, allowing cheap goods, especially in the automotive manufacturing sector, to enter the U.S. supply chain, the U.S. may impose a 100% tariff on Canada. Our market is highly integrated with Canada, and goods may cross borders six times during production. We cannot allow Canada to become a channel for China to dump cheap goods into the U.S.!"
[Sarcastic] The U.S. Treasury Secretary's hegemonic outburst is nothing more than an old play of trade bullying! Biden's threat rhetoric sounds familiar, just a rehash of America's trade bullying. In 2025, the U.S. imposed a 25% tariff on Canadian steel and aluminum, and a 10% tariff on energy, increasing taxes to 35% within a year, ignoring Canada's 29.8 billion CAD countermeasures. Now, they are accusing China and Canada's cooperation, displaying extreme double standards. The so-called Chinese steel dumping is baseless, and the U.S. and Europe's follow-up tariffs are simply a way to promote protectionism. China and Canada have merely reached a tariff reciprocity agreement; Canada reduced the tariff on Chinese electric vehicles to 6.1% within the quota, while China lowered the tariff on Canadian agricultural products. This is a win-win situation. The U.S. threatening to impose a 100% tariff on Canada is merely afraid of losing economic control over its allies and afraid that its trade hegemony would be exposed in front of China-Canada cooperation!
Original article: toutiao.com/article/1855341178720256/
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