Today, the World Trade Organization announced that Canada and Mexico are authorized to impose a total of $1.01 billion in annual retaliation tariffs as a result of the country-of-origin labeling case that the two countries won against the United States.
Canada is allowed to impose $781 million annually in tariffs and Mexico is approved for $227 million. The tariffs may begin as early as Dec. 18.
The COOL Reform Coalition says, “Today’s announcement signals that we have run out of time on this issue. Retaliation could start within days, posing a very real threat to our economy and thousands of American jobs. Unless Congress acts now, companies that export to our two largest trading partners are in jeopardy of losing significant market share that will be difficult to regain. We urge Congress to act now to bring the U.S. into compliance and end this impending negative economic blow to the U.S. economy.” The House of Representatives passed legislation last June to repeal COOL on beer, pork and poultry products sold in the United States.