In the news today: Canada braces for steel, aluminum tariffs
Market uncertainty continues as Canada awaits U.S. tariffs on steel, aluminum
Canada is steeling itself for more tariffs after U.S. President Donald Trump's tumultuous trade agenda caused U.S. stock markets to fall further on Monday. Trump has promised to lift exemptions on Wednesday and hit Canada with 25 per cent levies on steel and aluminum, bringing additional uncertainty to markets already being spun in circles by the president's inconsistent tariff threats. Trump launched a trade war against Canada and Mexico last week but paused parts of it days later in response to pleas from the automotive industry. Trump signed an executive order last Thursday delaying until April tariffs on goods that meet the rules-of-origin requirements under the Canada-United States-Mexico Agreement on trade.
What you need to know about U.S. tariffs on steel and aluminum set for Wednesday
Industries that rely on steel and aluminum goods are bracing for a fresh wave of tariffs set to kick in tomorrow. U.S. President Donald Trump is expected to follow through on his threat to impose 25 per cent tariffs on imports of those products. Analysts and economists say tariffs will likely be felt profoundly by U.S. sectors that rely heavily on Canadian steel, like defence and auto manufacturing. The tariffs are separate from the widespread ones enacted last week on Canadian and Mexican goods, some of which have been delayed. The steel and aluminum tariffs would stack on top of the earlier ones.
Here's what else we're watching...
Ontario eyes more trade abroad in wake of tariffs
Ontario is looking to focus on opening up new markets and attracting more overseas investment once the immediate economic threat of American tariffs passes. The province does about $500 billion in annual two-way trade with the United States. It's the largest trading partner for 17 U.S. states and the second-largest to 11 others — statistics Premier Doug Ford frequently rattled off in the early days of this trade battle. But now, with the United States imposing some tariffs and threatening others, Ford says the province needs to start focusing its procurements on Ontario-made or Canadian-made products.
N.S. court to hear Chignecto Isthmus dispute
A dispute over who should pay the cost of protecting the narrow low-lying strip of land that links Nova Scotia and New Brunswick is before the Nova Scotia Court of Appeal today. Over two days, a three-member panel will hear the case brought against the federal government by the provinces of Nova Scotia, New Brunswick and Prince Edward Island. In a legal filing in July 2023, the Nova Scotia government asked the court for an opinion on which level of government is responsible for covering the cost of protecting infrastructure on the Chignecto Isthmus from severe flooding. The provinces maintain that Ottawa should pay for the entire cost of upgrading the isthmus, currently estimated at $650 million.
Liberal race highlights murky transparency rule
A political transparency advocate is calling for Parliament to address what he calls a "loophole" in the rules for political fundraising. That comes after some of the Liberal leadership contenders didn't disclose fundraiser events through the public registry managed by Elections Canada. Only Mark Carney and Ruby Dhalla disclosed their fundraisers on the public list -- something candidates must do anytime a donor has to pay at least $200 to attend an event -- or else the candidates will be forced to pay it all back. Other candidates like Chrystia Freeland got around that because instead of putting a ticket price on the events, they just encouraged donations.
COVID-19 declared global pandemic 5 years ago
Five years ago, the World Health Organization declared a global pandemic of the novel coronavirus, setting off a series of policies that transformed Canadians' lives for years. The WHO's declaration followed months of warning signs about the dangers of COVID-19, including mass lockdowns in China and Italy, and served as a wake-up call for many Canadians. The virus has claimed tens of thousands of lives in Canada alone, many of them people in long-term care. The WHO lifted the global COVID-19 emergency in May 2023, noting the illness had been on a downward trend for more than a year.
This report by The Canadian Press was first published March 11, 2025.
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