The United States has voiced fresh concerns at the World Trade Organization (WTO) regarding India’s dairy certification requirements for imported milk and milk products. Specifically, the US views the required comprehensive veterinary health certificate, which must verify the absence of various substances, as an unnecessary trade obstacle. The US has emphasized that these requirements should be scientifically justified and minimally restrictive. While the two countries are discussing an interim trade deal, the US has also expressed concerns about India’s recently revised dairy certification, which is scheduled to take effect in November 2024.
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Following a temporary reprieve, President Trump threatened new tariffs on Canadian lumber and dairy products, citing unfair trade practices and retaliatory tariffs imposed by Canada. He specifically referenced Canada’s high tariffs on US dairy exports, aiming to implement reciprocal tariffs as early as Friday. Canadian Trade Minister Mary Ng refuted Trump’s claims, deeming the proposed tariffs unjustified. This announcement created market volatility, adding to existing economic uncertainty characterized by slowing hiring, reduced consumer confidence, and rising inflation.
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President Trump’s trade policy regarding Canada continues to shift dramatically. After temporarily suspending tariffs on numerous goods, he threatened new tariffs on Canadian lumber and dairy products, mirroring Canada’s high tariffs on US exports. This action, driven by claims of unfair treatment of American farmers, introduces further uncertainty into the economy. While the US possesses significant timber resources, experts warn that new lumber tariffs could negatively impact housing affordability. These fluctuating trade policies are creating volatility in the market and concerns about economic stability.
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John Q. Hosedrinker