Trump, Canada and tariffs
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Alcoa Corp., the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how US President Donald Trump’s trade agenda has affected the industry.
The prime minister pledges to diversify its trading partners away from the US and prioritise the use of Canadian steel.
1hon MSN
President Donald Trump's widespread tariffs have started to increase the price of many goods and products that American consumers buy, recent inflation reports show. When the tariffs were first announced,
White House press secretary Karoline Leavitt said Canada has been "pretty difficult to deal with" with respect to negotiating a trade deal with the Trump administration.
Before the U.S. imposed tariffs earlier this year, about 70 per cent of Walters Group's steel fabrications were exported to the U.S. Now, that number is nearly zero, says one executive during Prime Minister Mark Carney's visit to the Hamilton facility.
Four months since Trump fired the opening salvo of his trade war, only China and Canada have dared to hit back at Washington imposing a minimum 10 per cent global tariff, 50 per cent levies on steel and aluminium, and 25 per cent on autos.
Prime Minister announces package that includes caps on imported steel, prioritizing use of Canadian steel in government procurement, and $70 million to help steel workers get retrained.
Money Talks News on MSN1d
Your Grocery Bill Is About to Jump: Canada Tariffs Hit Food, Fuel Costs HardPresident Trump's new 35% tariffs on Canadian goods take effect August 1, targeting everything from oil to groceries. Working families could face $150-$200 monthly increases as gas and food costs spike nationwide.
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