U.S. President Donald Trump has signed executive orders imposing a 25% tariff on all steel and aluminum imports, targeting both Canada and Mexico. This move has sparked economic uncertainty and retaliatory threats from Canada, with the Canadian government announcing a $30-billion immediate response package followed by a $125-billion tariff on American products. This latest move echoes previous tariffs imposed by Trump in 2018, which caused significant job losses and disruptions to trade.
President Donald Trump listens to a question from a reporter as he signs executive orders in the Oval Office at the White House, Monday, Feb. 10, 2025, in Washington.
Trump announces his intent to impose 25 per cent tariff on steel imports and a 10 per cent tariff on aluminum imports. They come into force June 1.July 1, 2018 Steel pipe maker Tenaris SA temporarily lays off 40 workers and reorganizes its production in Sault Ste. Marie, Ont., the first publicly-disclosed job losses in Canada resulting from the U.S. steel tariffs.The United States and Canada announce an agreement to lift tariffs on Canadian steel and aluminum, as well as Canada’s retaliatory tariffs. Both governments lift their respective tariffs three days later.
In June 2019, after the tariffs were lifted, Canadian exports of steel products to the U.S. grew almost 16 per cent and the export of aluminum products grew 47 per cent.Trump announced a plan to impose a new 10 per cent tariff on Canadian aluminum imports, taking effect on Aug. 16, 2020.The United States calls off the tariffs, agreeing to withdraw current penalties before Canada’s retaliatory measures take effect.
TRUMP TARIFFS STEEL ALUMINUM CANADA MEXICO TRADE WAR ECONOMY
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