TRADE AGREEMENT WITH S. KOREA - BENEFICIAL TO WTE??It appears Canada is about to ink a trade deal with South Korea. This will be a boon to farmers (read: the pork industry, as the Asians love pork and know how to cook it).
How much coal do we ship to S. Korea and will this trade deal make a great difference? Just asking.
As for those "cry-baby" auto workers in Ontario....oops! (I live in Ontario) the removal of the 6.1 % import tariff on those Kia and Hyundai will mean that we will have to compete with new price-points on those brands of cars. Just hope we can secure a similar trade deal with the Japanese, as we also pay a 6.1% tariff on cars manufactured in Japan.
It works out to more that 6.1% because we pay the H.S.T. on the 6.1%
Here is my math: e.g. A $30,000 Korean car would cost in Ontario:
$30,000 x $3,900 (13%) H.S.T. = $33,900
With the elimination of the 6.1 % import tariff.
$30,000 x.01 x.061 = $1,830. $30,000 - $1,830 = $28,170, now add the H.S.T. $28,170 x 13% = $3,662.10 $28,170 + $3,662.10 = $31,832.10
Savings: $33,900 - $31,832.10 = $2,067.90 (LESS)
Check my math, let me know if got if right.
Best................SHUMBA