Countries that have a free-trade pact with Canada will face a 50 per cent tariff on any steel they ship to the country above 2024 levels. Those without a free-trade agreement will only be able to sell half of what they sent to Canada in 2024 before 50 per cent tariffs kick in. The change won’t impact trade with the U.S. or Mexico. The new policy also targets steel melted and poured in China with an extra 25 per cent tariff.
(The Logic)
Countries that have a free-trade pact with Canada will face a 50 per cent tariff on any steel they ship to the country above 2024 levels. Those without a free-trade agreement will only be able to sell half of what they sent to Canada in 2024 before 50 per cent tariffs kick in. The change won’t impact trade with the U.S. or Mexico. The new policy also targets steel melted and poured in China with an extra 25 per cent tariff.
(The Logic)
Talking point: The new tariffs are meant to make a larger share of Canada’s market available to domestic mills, as they cope with the impact of U.S. President Donald Trump’s 50 per cent tariff on foreign steel. Prime Minister Mark Carney says Trump’s tariffs are driving foreign firms to Canada because of its “disproportionately open import market.” Carney moved the deadline to strike a trade and security pact with the U.S. to Aug. 1, but said so far there’s no deal on the table that is good for Canadians.
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