COOL: Canada Seeks $3 Billion in Retaliation
On Thursday, Canada and Mexico announced they’ll pursue authorization from the World Trade Organization (WTO) for retaliation against the U.S. for country of original labeling (COOL). Canada seeks $3 billion in retaliatory tariffs on U.S. exports, while Mexico targets $653 million in trade.
“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,” says Gerry Ritz, Minister of Agriculture and Agri-Food for Canada.
This all follows a May 18 WTO ruling against the U.S.’s COOL requirements. It was the fourth and final time the WTO ruled against COOL.
“We continue to call on the United States to repeal COOL, cease this harmful policy and restore our integrated North American supply chain to the benefit of businesses and workers on both sides of the border,” says Ed Fast, Minister of International Trade for Canada.
A hearing will be held on June 17 by the WTO Dispute Settlement Body to consider the retaliatory tariffs.
Meanwhile, the U.S. Congress is considering repealing COOL next week.
The House of Representatives will look at legislation that would repeal COOL requirements for beef, pork and poultry products.
If the bill passes it would move onto the Senate where Agriculture Committee Chairman Pat Roberts has already voiced a strong opinion against COOL. Senator Roberts has previously shared he believes that “full repeal” of COOL is the only way to prevent retaliation.
