Canada will adjust its existing 25 per cent counter-tariffs on U.S. steel and aluminum products on July 21, but Prime Minister Mark Carney says whether they go up, down or disappear depends on how much progress he makes in securing a new Canada-U.S. deal. (The Logic)
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Canada will adjust its existing 25 per cent counter-tariffs on U.S. steel and aluminum products on July 21, but Prime Minister Mark Carney says whether they go up, down or disappear depends on how much progress he makes in securing a new Canada-U.S. deal. (The Logic)
Talking point: U.S. President Donald Trump doubled his global tariffs on steel and aluminum to 50 per cent earlier this month. Canada’s steel industry called on Ottawa to respond quickly, but Carney held fire on increasing the counter-tariffs. Carney and Trump agreed Monday at the G7 summit in Kananaskis, Alta., to try to finish their negotiations on a new economic and security deal within 30 days. “We’re going to adjust [the counter-tariffs] to levels consistent with the progress that’s made at that point,” Carney said Thursday. Canada will also soon bring in trade measures to help prevent foreign steel flooding the Canadian market, among other ways it will support the domestic industry.
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