Canada, tariff and partners Carney
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President Trump announced a slew of tariffs on imports last week, with a proposed 35% tariff on Canadian goods, including in the automotive sector, which could deeply affect American drivers. Trump announced the tariffs on Truth Social with screenshots of a letter sent to Canada’s prime minister,
Canada will reduce the amount of foreign steel that importers can bring in tariff-free, a move to help domestic producers suffering from US President Donald Trump’s levies on the sector.
America’s trading partners have largely failed to retaliate against Donald Trump’s sweeping tariffs, allowing a president taunted for “always chickening out” to raise nearly $US50 billion ($77 billion) in extra customs revenues at little cost.
Canadian Prime Minister Mark Carney on Wednesday said that Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry.
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.
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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.