Canada, partners Carney and tariffs
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Canada’s steel industry fears that Chinese steel facing steep tariffs in the United States will be sent north and overwhelm the Canadian market.
Under the new policy, Canada will apply a 25 percent tariff on steel imports from any country — except the U.S. — if the original steel was melted and poured in China.
The Canadian Press on MSN3h
Canada to target steel originating from China with new tariffsSteel originating in China will be subjected to higher tariffs to tackle steel dumping amid U.S. President Donald Trump's ongoing global trade war, Prime Minister Mark Carney said on Wednesday. The prime minister toured a steel manufacturing company in Hamilton before announcing new details on measures protect the Canadian steel industry.
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India Today on MSNTrump reaps $50 billion windfall from tariffs as trade partners hold fire: ReportDonald Trump’s sweeping tariffs generated nearly $50 billion in extra revenue as most US trading partners, except China and Canada, refrained from significant retaliation.
The impact on effective tariff rates is expected to be moderate. BofA estimates these could rise to 4.2% for Canada and 6.9% for Mexico, up from 3.6% and 6.2%, respectively, due to the high share of USMCA-compliant goods in total trade flows.
Steel originating in China will be subjected to higher tariffs to prevent steel dumping amid U.S. President Donald Trump's ongoing trade war.