Canada will ‘adjust' counter tariffs on US metals if no deal in 30 days
OTTAWA: Canada will 'adjust' its 25 percent counter tariffs on US steel and aluminum in response to a doubling of US levies if a bilateral trade deal is not reached within 30 days, Prime Minister Mark Carney said Thursday.
'Canada will adjust its existing counter tariffs on US steel and aluminum products on the 21st of July, at the end of that 30-day period,' he said.
Carney also announced a raft of measures to support the Canadian steel and aluminum sectors facing 50 percent US tariffs, including procurement rules that favor domestic suppliers and anti-dumping measures.
Canada is the largest supplier of foreign steel and aluminum to the United States, and Carney earlier this month had denounced the doubling of US tariffs on Canadian imports of steel and aluminum, calling them 'unjustified' and 'illegal.'
At the same time, Canada and the United States launched 'intensive discussions' to rewrite Canada-US trade relations.
G7 leaders at the Group of Seven summit in Canada on Monday pushed US President Donald Trump to back away from his punishing trade war.
After Carney and Trump met on the sidelines of the summit, the Canadian government indicated the two sides could reach a trade deal within the next 30 days.
The talks are ongoing.
A good outcome in those negotiations, Carney said Thursday, would be to 'stabilize the trading relationship with the United States' and 'ready access to US markets for Canadian companies' while 'not having our hands tied in terms of our dealings with the rest of the world.'
Canada exported 5.95 million tonnes of steel and 3.15 million tonnes of aluminum to the United States last year, according to US government data.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
6 hours ago
- New Straits Times
World is going through a new era of conflict escalation
AS India's defence chief attended an international security conference in Singapore in May, soon after India and Pakistan fought what many in South Asia now dub "the four-day war", he had a simple message: Both sides expect to do it all again. However, Indian Chief of Defence Staff General Anil Chauhan denied either nation had come close to the "nuclear threshold", describing a "lot of messaging" from both sides. There have been several dramatic examples of escalation in several global stand-offs over the past two months. Recent weeks have witnessed what is now referred to in Israel and Iran as their "12-day war". It ended last week with a US-brokered ceasefire. As events in Ukraine have shown, conflict between major nations can become normalised at speed — whether that means "just" an exchange of drones and missiles, or a more existential battle. More concerning still, such conflicts appear to have become more serious throughout the current decade, with plenty of room for further escalation. This month, that included an audacious set of Ukrainian-organised drone strikes on long-range bomber bases deep inside Russian territory, destroying multiple aircraft which, as well as striking Ukraine, have also been responsible for carrying the Kremlin's nuclear deterrent. Simmering in the background, meanwhile, is the largest and most dangerous confrontation of them all — that between the United States and China. US officials say Beijing has instructed its military to be prepared to move against Taiwan from 2027, potentially sparking a hugely wider conflict. Addressing senators on Tuesday, America's next top commanders in Europe and the Middle East were unanimous in their comments that the US strikes against Iran would strengthen Washington's hand when it came to handling Moscow and Beijing. Chinese media commentary was more mixed. Han Peng, head of state-run China Media Group's North American operations, said the US had shown weakness to the world by not wanting to get dragged into the Iran conflict due to its "strategic contraction". Other social media posts talked of how vulnerable Iran looked, with nationalist commentator Hu Xijn warning: "If one day we have to get involved in a war, we must be the best at it." On that front, the spectacle of multiple US B-2 bombers battering Iran's deepest-buried nuclear bunkers — having flown all the way from the US mainland apparently undetected — will not have gone unnoticed in Moscow or Beijing. Nor will President Trump's not so subtle implications that unless Iran backed down, similar weapons might be used to kill its Supreme Leader Ayatollah Ali Khamenei or other senior figures, wherever they might hide. None of America's adversaries have the ability to strike without warning in that way against hardened, deepened targets, and the B-2 — now being replaced by the more advanced B-21 — has no foreign equal. In reality, the threat of an overwhelming US military response, and hints of an accompanying switch of US policy to outright regime change or decapitation in Iran, coupled with the Israeli military success against Hizbollah and Hamas, appear to have forced Teheran to largely stand down. What that means in the longer term is another question. Behind the scenes and sometimes in public, US and allied officials say they are still assessing the implications of the success of Ukraine and Israel in infiltrating large numbers of short-range drones into Russia and Iran, respectively, for two spectacular attacks in recent weeks. According to Ukrainian officials, the drones were smuggled into Russia hidden inside prefabricated buildings on the back of trucks, with the Russian drivers unaware of what they were carrying until the drones were launched. Israel's use of drones on the first day of its campaign against Iran is even more unsettling for Western nations. Its drones were smuggled into Iran and, in some cases, assembled in secret there to strike multiple senior Iranian leaders and officials in their homes. As they met in The Hague last week for their annual summit, Nato officials and commanders would have considered what they must do to build their own defences to ensure that they do not prove vulnerable to a similar attack. Judging by reports in the Chinese press, military officials there are now working on the same.
The Star
6 hours ago
- The Star
China-Laos Railway sees over 10 billion yuan in trade value from Jan-May
KUNMING (Xinhua): The China-Laos Railway handled more than 2.48 million tonnes of import and export cargo valued at over 10 billion yuan (US$1.4 billion) from January to May this year, customs data has showed . Both freight volume and value saw significant growth in this period, with a 7.9-per cent year-on-year increase in volume and a 33.2-per cent surge in value. In May alone, this railway transported 512,000 tonnes of goods worth 3.76 billion yuan -- setting a monthly record high since its opening in December 2021. Following its launch, the railway has experienced robust growth in cargo transport. As of May 22, total freight volume had surpassed 60 million tonnes, with cross-border shipments exceeding 13.9 million tonnes. The range of goods transported has expanded dramatically from just over 10 types initially to more than 3,000. These goods include electronics, photovoltaic products, communication equipment, automobiles, agricultural products, industrial goods and daily necessities. - Xinhua
The Star
9 hours ago
- The Star
Miti supports young entrepreneus through DEFA, Asean SME Academy, says Tengku Zafrul
KUALA LUMPUR: The Investment, Trade and Industry Minister is actively creating more space for young entrepreneurs to thrive, in line with Malaysia's role as Asean chair, says its Minister Tengku Datuk Seri Zafrul Abdul Aziz. infographic He said that through initiatives such as the Asean SME Academy and the Digital Economy Framework Agreement (DEFA), the ministry is breaking down barriers so that these entrepreneurs can start, scale, and connect their ventures beyond borders. "DEFA, the world's first regional digital economy treaty, is projected to grow Asean's digital economy to over US$2 trillion by 2030 and generate millions of jobs. These are not just statistics; they are doorways to your future," he said in his closing keynote address at the Nusantara Youth Forum 2025 held in Putrajaya Saturday (June 28). Tengku Zafrul said that as Malaysia opens doors for young entrepreneurs and innovators, it is important to mention how Malaysia's own long-term strategies align with these regional ambitions. "Through the New Industrial Master Plan 2030 (NIMP 2030), Malaysia is transforming our industrial landscape by focusing on high value-added sectors, advanced manufacturing, and future-oriented skills. "NIMP's core mission is to create quality jobs and ensure our industries - especially in electrical and electronics (and) green tech - remain globally competitive, resilient, and sustainable," he said. According to the minister, national frameworks such as NIMP are not just about Malaysia's progress. "They also complement Asean initiatives like DEFA and the Asean SME Academy, creating a seamless ecosystem that supports youth, from upskilling and financing to market access, so you can truly take your ideas from the region to the world," he said. Tengku Zafrul also gave recognition to arts and culture, saying that too often, the creative sector is wrongly treated as secondary to the "main economy". "The truth is, culture and creativity are economic engines, identity builders and bridges between nations," he said, adding that Asean's creative industries, from music to film, are gaining global attention. The Minister said he cannot overstate the importance of entrepreneurship in driving both economic progress and social transformation. "Today, the most exciting businesses in Malaysia, and indeed throughout Asean, are being founded, led, and grown by youths. "Whether you are developing tech solutions, running sustainable farms, designing innovative products, or launching platforms for social impact, you show the world what is possible when ambition is united with purpose," he added. - Bernama
