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Musk's SpaceX announces $100 billion plan for new spaceport in Louisiana
Confirmed
On Tuesday, Champagne said Canada's plan is to strengthen its own economy and extend trade relations with other countries, noting that he plans to meet a trade official from India this week.
Impact on consumers Canada said it will impose tariffs of 15%, 25%, and 50% on products targeted by the U.S. "While the value of goods covered by these reciprocal tariff measures is only a fraction of the annual bilateral trade in goods between the two countries, at over $700 billion, these tariff lists include some goods that could have broad downstream effects on industries, trades, professions and consumers," Augustine Lo, a partner with international law firm Dorsey & Whitney, said in an email. "Today, I'm announcing Canada will match the U.S. tariffs dollar for dollar, up to 50% on $27.6 billion of imports from the United States of America," Canadian Minister of Finance and National Revenue François-Philippe Champagne said in a press conference to announce the measure. Louisiana Gov. Jeff Landry said the deal was a big win for the state and country, likening the impact of the new launch site to the 1803 Louisiana Purchase. State officials said the project would generate 3,000 jobs over a decade. SpaceX, which filed for a confidential initial public offering in April, said it sees a market opportunity of more than $28 trillion across the industries it operates in.
The location provides key advantages, state officials said, including access to abundant natural gas and the ability to launch to a wide range of trajectories. The Louisiana site could support thousands of launches each year, the news release said.
What's confirmed
- On Tuesday, Champagne said Canada's plan is to strengthen its own economy and extend trade relations with other countries, noting that he plans to meet a trade official from India this week.
- Impact on consumers Canada said it will impose tariffs of 15%, 25%, and 50% on products targeted by the U.S.
- The location provides key advantages, state officials said, including access to abundant natural gas and the ability to launch to a wide range of trajectories.
What's still developing
- On Tuesday, Champagne said Canada's plan is to strengthen its own economy and extend trade relations with other countries, noting that he plans to meet a trade official from India this week.