Global Markets: China fires back at U.S. with new tariffs

By Commodity News Service Canada
WINNIPEG, April 2, 2018 (CNS) – The following is a glance at the
news moving markets in Canada and globally.
China has increased tariffs by up to 25 per cent on 128
United States products, from frozen pork and wine to certain
fruits and nuts, escalating a dispute between the world’s
biggest economies in response to U.S. duties on imports of
aluminum and steel. The tariffs, which take effect on Monday,
were announced late on Sunday by China’s finance ministry and

matched a list of possible tariffs on up to US$3 billion in U.S.
good published by China on March 23.
U.S. President Donald Trump will discuss “reciprocal trade
and investment ties” with Japan’s Prime Minister Shinzo Abe
during a visit later this month, the White House announced
Monday. Japan, one of the U.S.’ closest allies, has not been
granted exemptions to the new U.S. steel and aluminum tariffs.
Abe will meet with Trump at Mar-a-Lago, the president’s Florida
resort, on April 17 and 18.
Transcontinental Inc. announced Monday it will buy the U.S.
unit of plastics packager Coveris Holdings S.A. for US$1.32
billion, as the Canadian company shifts its focus to a lucrative
flexible packaging business. As part of the deal,
Transcontinental will take control of privately held Coveris
Americas’ 21 production facilities that make rollstock, bags and
pouches, shrink films and labels, among others. The deal is
expected to close by the third quarter of 2018.

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