President Trump's announcement of a 25% tariff on all steel and aluminum imports, including those from Canada, has caused alarm among Canadian businesses and officials. The potential impact on the cost of goods and jobs on both sides of the border is a major concern. This isn't the first time Trump has targeted Canadian steel and aluminum, and past tariffs have already caused economic damage. Canada and its European allies are preparing to push back against these latest threats, hoping to avoid another damaging trade war.
President Donald Trump announced his intention to impose a 25 percent tariff on all steel and aluminum imports, including those from Canada and Mexico, during a press conference aboard Air Force One en route to the Super Bowl in New Orleans. This move has sparked concern among Canadian business leaders and government officials.
Catherine Cobden, president and CEO of the Canadian Steel Producers Association, expressed deep concern, stating that while details remain unclear, the association would analyze the president's order once released and provide further comment. Matthew Holmes, executive vice president of the Canadian Chamber of Commerce, echoed these concerns, emphasizing that the uncertainty surrounding tariffs is detrimental to businesses and consumers in both Canada and the U.S., particularly at a time when affordability and inflation are major concerns.Holmes pointed out that estimates suggest these tariffs could significantly increase the price of an average car by thousands of dollars and put jobs on both sides of the border at risk. The Canada-U.S. Trade Tracker analysis, according to Holmes, clearly demonstrates the negative impact tariffs would have on the economies of both nations. Stéphane Dion, the Canadian ambassador to France, revealed that Canada and European countries are collaborating on a unified strategy to address the potential tariff threats emanating from the United States. Dion stated that while Canada and Mexico are the initial targets, Europeans recognize they could also be affected and are working with Canada to develop a cohesive approach to persuade the U.S. administration that trade wars are detrimental to all parties involved and not a suitable course of action between allies. This isn't the first time Trump has imposed tariffs on Canadian steel and aluminum. Cobden recalled that the previous tariffs imposed in 2018 caused substantial disruptions and harm on both sides of the border, impacting both American and Canadian economies. The Canadian Steel Producers Association highlighted the $20 billion worth of steel trade between the two countries as evidence of their deeply integrated economies. Trump implemented steel and aluminum tariffs at 25 and 10 percent respectively during his first term in March 2018, citing national security as justification. Initially, Canada received an exemption from these duties but was eventually subject to the tariffs on May 31, 2018. Canada retaliated with counter-tariffs on American products such as Florida orange juice. Nearly a year later, on May 17, 2019, the White House announced a deal to prevent an influx of steel and aluminum from Canada and Mexico, effectively ending the trade dispute
TARIFFS TRUMP CANADA STEEL ALUMINUM TRADE WAR ECONOMY NATIONAL SECURITY
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump Threatens 25% Tariff on Canadian Goods, Ford Calls for Team Canada ResponseU.S. president-elect Donald Trump has threatened to impose a 25% tariff on Canadian goods upon his inauguration next week. Ontario Premier Doug Ford warns of potential job losses, urging federal government action. Ford advocates for a stronger energy partnership with the U.S. and emphasizes the need for a unified Canadian response.
Read more »
Trump Imposes 25% Tariffs on Canadian Imports, Canada Prepares ResponseU.S. President Donald Trump announced a 25% tariff on imports from Canada, Mexico, and China, sparking diplomatic tension and concerns about a trade war. Canadian Prime Minister Justin Trudeau vowed a 'purposeful' response, while Mexican and Canadian officials scramble to mitigate the impact.
Read more »
Trump Threatens New 25% Tariffs on Canadian Steel and Aluminum ImportsU.S. President Donald Trump announced plans for new 25% tariffs on all steel and aluminum imports from Canada, escalating his trade policy overhaul. This move would add to existing metals tariffs and comes after Trump's previous threats regarding border security and trade imbalances.
Read more »
Trump Threatens 25% Tariffs on Canadian Steel and AluminumU.S. President Donald Trump announced his intention to impose a 25% tariff on all steel and aluminum imports, including those from Canada and Mexico. This comes despite a previous agreement to end trade disputes over these tariffs. Trump cited a perceived $200 billion trade deficit with Canada and repeated his controversial idea of Canada joining the U.S. as a 51st state.
Read more »
Canada to Retaliate with Tariffs as US Imposes 25% on Canadian GoodsUS President Donald Trump announced 25% tariffs on Canadian goods, sparking a retaliatory response from Canada. Prime Minister Justin Trudeau pledged to impose tariffs on $155 billion worth of American products, including alcohol, furniture, and natural resources. The dispute stems from border security concerns and trade tensions.
Read more »
Trump promises 25% tariff on steel and aluminum imports — including from CanadaPresident Donald Trump speaks to reporters aboard Air Force One where Trump signed a proclamation declaring Feb. 9 'the first ever Gulf of America Day,' as he travels from West Palm Beach, Fla. to New Orleans, Sunday, Feb. 9, 2025.
Read more »