Canada strikes in the United States with additional counter-triggers worth $ 29.8 billion in response to new tasks on Canadian steel and aluminum as a trade war between The two North American neighbors degenerate.
The federal government made this announcement after a 25% rate imposed by the United States on all imports of steel and aluminum from Canada and other American business partners entered into force on Wednesday.
The Minister of Finance, Dominic Leblanc, said that the new reciprocal prices of 25% of Canada come into force at 12:01 p.m. on Thursday and apply to steel products worth 12.6 billion dollars, aluminum products worth $ 3 billion and additional imported American products with a value of $ 14.2 billion.
“With these most recent Canadian steel and aluminum prices, the US administration inserts disruption and disorders in an incredibly successful business partnership and increases the costs of daily goods for Canadians and American households,” said Leblanc.
“We will not remain strewn while our emblematic industries of steel and aluminum are unjustly targeted.”
Foreign Minister Melanie Joly said these prices represent “an existential threat to our country” and that Canada will continue to “retaliate against this nonsense”.
“The only constant in this unjustified and unjustifiable trade war seems to be President Trump’s talks to annex our country by economic coercion,” she told journalists on Wednesday.
US President Donald Trump had threatened on Tuesday Double the 50% planned metal rates in response to Ontario’s decision To impose an additional 25% supplement to electricity exports to the United States, which was reprisals for Trump imposing 25% prices on Canadian products last week.
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The White House said Tuesday afternoon Steel and aluminum prices would go forward at 25% instead of 50% after Ontario suspended its electricity tax for three American states.
Canada’s new counter-tariffs are added to meters of 25% out of $ 30 billion in American products that were imposed last week in response to general tasks. Ottawa says they will remain in place until all Trump’s prices are lifted.
Are you confused about how we got here? Click here for a chronology Trump pricing threats and commercial actions.
Leblanc said the federal government will continue to put pressure on the Trump administration to fully eliminate prices, while working to support Canadian businesses and workers through “these difficult times”.
Friday, The federal government has unveiled new support measures worth $ 6.5 billion To mitigate the impact of the American trade war on Canadian workers.
The Minister of Labor, Steven Mackinnon, also announced the temporary expansion of the “labor sharing program” to allow employers to reduce the hours while keeping workers in their employment with support for income.
The Canadian provinces have revealed their own reprisal measures separately.
Monday, Ontario has introduced a 25% tax on all electricity exports From the province to Michigan, Minnesota and New York in response to American prices on Canadian products. A day later, the province fell and said there would be a meeting with US officials on Thursday.
The Minister of Industry François-Philippe Champagne declared that he and Leblanc would join the Prime Minister of Ontario Doug Ford for this meeting in Washington, DC
In the meantime, Trump threatened more tariff cycles In the Canada automotive sector and Canadian dairy and wood products. He also threatened so -called reciprocal prices on all American trade partners, including Canada, which is expected to kick on April 2.
How will the prices of steel and aluminum have an impact on Canada and the United States?
Metal prices should have an impact on workers and businesses on both sides of the border.
The United States is based on Canada for 75% of its imported primary aluminum, according to the Canada aluminum association.
“Trump knowingly inflicts damage to the North American manufacturing sector with these inflationary prices that will injure workers, eliminate jobs and injure consumers”, Lana Payne, National President of Unifor, said in a statement on Wednesday.
THE Canadian Chamber of Commerce said Trump’s prices are “proven to failure”, adding that the last time he prounded imports of steel and aluminum in 2018, this resulted in “the net loss of tens of thousands of American blue -collar jobs”.
“Steel and aluminum are a question of resistance; These prices only weaken us both, “said Candace Laing, president and chief executive officer of the Canadian Chamber of Commerce.
“President Trump can also hand over the leaders of steel and aluminum in North America in China.”
David Adams, president and chief executive officer of the world’s world car manufacturers in Canada, said that steel and aluminum prices will only make vehicles built in the United States more expensive for Americans.
“The increase in the price of vehicles built in the United States sold in Canada will make these vehicles less competitive on the Canadian market,” said Adams.
Canada is not the only country to be affected by steel and aluminum prices.
Trump’s decree, which started at 12:01 p.m. Wednesday, Wednesday, applies to all steel and aluminum imports from American trade partners, without exception or exemption.
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