Latest news with #AluminiumAssociationofCanada
Business Recorder
06-07-2025
- Business
- Business Recorder
Canada could financially back aluminum producers if 50% U.S. tariffs persist, trade group says
MONTREAL: Canada has discussed offering financial support to large aluminum producers like Rio Tinto impacted by a U.S.-led trade war, in the event that Washington's 50% tariff on imports of the metal persist in the medium term, the CEO of a key industry trade group said on Saturday. Aluminium Association of Canada CEO Jean Simard told Reuters in an interview that the early talks could help the sector in the event that Ottawa is unable to reach a planned deal with its key trading partner by July 21. 'It's part of a larger discussion where everything is on the table,' Simard said, adding that no decision has been reached. Canada recently canceled a digital service tax on U.S. technology companies in order to preserve trade talks with U.S. President Donald Trump, but another irritant remains in the ongoing negotiations. While the major aluminum producers operating in Canada do not have liquidity problems, Simard said, a 50% U.S. tariff on aluminum imports would inevitably have an impact on finances if it continues longer term. He added that with the 50% tariff in effect since June 4, it's normal that there are discussions about the impact on businesses' cash flow if the situation continues. Around half of all aluminum used in the U.S. is imported, with the vast majority coming from Canada. Simard's comments follow media reports late Friday in which federal industry minister Mélanie Joly said the government is having conversations with Rio Tinto about providing financial assistance due to the crushing U.S. tariffs. Some Japan buyers agree to pay Q3 aluminium premium of $108/T Rio Tinto declined comment on Saturday. A spokesperson for Joly's office said in a statement that Ottawa is in 'active conversations' on how it can best support Canada's aluminum industry in the context of unjustified American tariffs, with the goal to support increased investment in the sector. U.S. President Donald Trump doubled tariffs on steel and aluminum imports to 50% last month, stepping up pressure on global steel producers and deepening his trade war, to support domestic production of the vital materials for construction.
New Straits Times
06-07-2025
- Business
- New Straits Times
Canada could financially back aluminum producers if 50 pct US tariffs persist, trade group says
MONTREAL: Canada has discussed offering financial support to large aluminum producers like Rio Tinto impacted by a US-led trade war, in the event that Washington's 50 per cent tariff on imports of the metal persist in the medium term, the CEO of a key industry trade group said on Saturday. Aluminium Association of Canada CEO Jean Simard told Reuters in an interview that the early talks could help the sector in the event that Ottawa is unable to reach a planned deal with its key trading partner by July 21. "It's part of a larger discussion where everything is on the table," Simard said, adding that no decision has been reached. Canada recently canceled a digital service tax on US technology companies in order to preserve trade talks with US President Donald Trump, but another irritant remains in the ongoing negotiations. While the major aluminum producers operating in Canada do not have liquidity problems, Simard said, a 50 per cent US tariff on aluminum imports would inevitably have an impact on finances if it continues longer term. He added that with the 50 per cent tariff in effect since June 4, it's normal that there are discussions about the impact on businesses' cash flow if the situation continues. Around half of all aluminum used in the US is imported, with the vast majority coming from Canada. Simard's comments follow media reports late Friday in which federal industry minister Mélanie Joly said the government is having conversations with Rio Tinto about providing financial assistance due to the crushing US tariffs. Rio Tinto declined comment on Saturday. A spokesperson for Joly's office said in a statement that Ottawa is in "active conversations" on how it can best support Canada's aluminum industry in the context of unjustified American tariffs, with the goal to support increased investment in the sector. US President Donald Trump doubled tariffs on steel and aluminum imports to 50 per cent last month, stepping up pressure on global steel producers and deepening his trade war, to support domestic production of the vital materials for construction.
Hamilton Spectator
19-06-2025
- Business
- Hamilton Spectator
Steel industry groups say Carney's retaliatory plan for U.S. tariffs ‘falls short'
OTTAWA - The Canadian Steel Producers Association and United Steelworkers Union are panning Prime Minister Mark Carney's response to U.S. President Donald Trump's punishing tariffs. Their response came hours after Carney announced a tariff countermeasure plan Thursday that includes retaliation against Trump's steel and aluminum tariffs a month from now — depending on how much progress the two world leaders make in their trade discussions. The two steel organizations issued a joint statement late Thursday saying Carney's plan 'falls short of what the industry needs at this most challenging time.' 'We will continue to review the details of the measures and work constructively with the federal government to get a plan that works for Canadian steel producers and the thousands of workers that make up our sector,' Catherine Cobden of the steel industry association and Marty Warren, the union's national director, said in the joint statement. Carney said that while he and Trump are pursuing a deal to end tariffs within the next 30 days, Canadian counter-tariffs will be adjusted on July 21 to 'levels consistent with progress made in the broader trading agreement with the U.S.' 'We must reinforce our strength at home and safeguard Canadian workers and businesses from the unjust U.S. tariffs,' Carney told a press conference on Parliament Hill following a federal cabinet meeting. The announcement came just a few hours before Canadian steel industry representatives were set to publicly call on the government to take immediate action in response to the U.S. tariffs. The steel producers instead held off and scrubbed their press conference. Jean Simard, head of the Aluminium Association of Canada, said in a media statement Thursday that the measures Ottawa announced 'strike the right balance.' He said the government needs to carefully balance 'sending a strong signal towards focused and accelerated negotiations and using a measured approach through adaptive counter-tariffs and reciprocal procurement policies.' 'In this rapidly evolving situation, with potentially high financial impacts due to uncontrollable market reactions, we will need and seek agility and speed for government interventions should we reach the 30-day deadline without a positive resolve,' Simard added. Trump imposed his 25 per cent tariff on all steel and aluminum imports in March and Canada responded with 25 per cent counter-tariffs on U.S. steel and aluminum products in March. But Canada has not changed its tariffs yet since Trump increased U.S. tariffs on steel and aluminum to 50 per cent on June 3. The U.S. steel and aluminum tariffs apply to the entire world, not just Canada, which has led to concerns about dumping — foreign companies flooding the market with products priced far below the prices domestic firms can charge. Trump's escalating tariff war has slammed demand and prices for Canadian steel, prompting layoffs and leaving the industry worried about its future. Ottawa also plans to introduce rules on June 30 that will limit federal procurement to using steel and aluminum from Canada and 'reliable trading partners.' The Carney government will also set new tariff rate quotas of 100 per cent of 2024 levels on imports of steel products from non-free trade agreement partners. NDP Leader Don Davies said in a media statement Thursday that the Liberal government is only taking baby steps to address the crisis. He called for an emergency response plan packed with supports for workers. 'They're taking one small step after another, which won't make a meaningful difference and will ultimately cost many workers their jobs,' Davies said. Two weeks ago, when Trump increased the tariff rate, the Canadian Steel Producers Association — whose members include Algoma Steel, ArcelorMittal, Rio Tinto and Tenaris — immediately called on Carney to hit back with new tariffs and warned that Canada was being edged out of the U.S. market. They met with Industry Minister Mélanie Joly, who said on June 4 the government 'will take a decision but we need a bit more time right now — not too long.' Just before the cabinet meeting on Thursday, Joly acknowledged that the U.S. tariffs have left Canada's steel and aluminum industries in a state of emergency. 'We know that the Canadian steel and aluminum workers are very anxious and they want us to come up with a solution really, really quickly,' she said. The prime minister also announced Thursday the creation of two separate task forces for steel and aluminum that will meet to monitor the situation and advise the government. This report by The Canadian Press was first published June 19, 2025.
Cision Canada
19-06-2025
- Business
- Cision Canada
Canada's aluminium industry welcomes today's announcement on measures to protect its industry Français
MONTREAL, /CNW/ - Canada's aluminium industry welcomes Finance Canada's announcement of a series of measures to protect Canadian aluminium producers and workers. "We find that these announcements strike the right balance between sending a strong signal towards focused and accelerated negotiations and using a measured approach through adaptive counter-tariffs and reciprocal procurement policies," said Jean Simard, President and CEO of the Aluminium Association of Canada. "In this rapidly evolving situation, with potentially high financial impacts due to uncontrollable market reactions, we will need and seek agility and speed for government interventions should we reach the 30-day deadline without a positive resolve," he added. The industry also welcomes the Government of Canada's recognition of the fundamental differences between the aluminium and steel markets, and the need for tailored trade measures that reflect those realities. Smelted and cast and additional tariff measures "During the Government of Canada's consultations on improvements to its aluminium Import Monitoring System, Canada's aluminium industry fully supported the use of "Country of Smelt and Cast" provision to address risks of unfair trade within the CUSMA trading space," said Jean Simard. "This fourth measure announced today, including additional tariff measures, comes at the right time and will hopefully be implemented rapidly." As we did back in 2018, we are looking forward to working with our government and union counterparts, over the coming weeks through the Aluminium Taskforce, providing market and evidence-based information towards efficient, coherent and supportive government decision-making made for the aluminium industry, its workers and communities. About the Aluminium Association of Canada Founded in 1990, the Aluminium Association of Canada (AAC) represents the three Canadian world-class aluminium producers: Alcoa, Alouette, and Rio Tinto. Operating nine smelters in Canada, eight of which in Quebec, employing over 9,500 workers. The AAC and its members are active in the development of best practices in health and safety and responsible low CO 2 production. For more information, visit or X @AAC_aluminium.
Yahoo
05-06-2025
- Business
- Yahoo
US tariffs on steel and aluminium may lead to job losses in Canada
The Canadian metals industry faces significant challenges as higher US tariffs on steel and aluminium, now at 50%, threaten to result in job losses and lost sales, according to a Reuters report. Canada is the largest seller of steel and aluminum to the US. Unifor, Canada's private sector union, and the Aluminium Association of Canada have expressed serious concerns over the immediate impact of the tariffs. Unifor president Lana Payne was quoted by the news agency as saying: 'So this is going to have a very quick impact, I will say to you, on steel industry.' According to the report, members of the Aluminium Association of Canada, including Rio Tinto, are reportedly considering diversifying to Europe in response to the 50% tariffs. Nova Scotia-based Marid Industries CEO Tim Houtsma highlighted the impossibility of selling to the US market under these conditions, indicating a need for cost-watching and market exclusion fears. Prime Minister Mark Carney has announced that Canada is ready to retaliate if negotiations with the US fail. 'We are in intensive negotiations with the Americans, and, in parallel, preparing reprisals if those negotiations do not succeed,' he declared to the House of Commons. Unifor has urged immediate retaliation and suggested halting exports of critical minerals to the US. The union also warned of potential layoffs in the auto and aerospace industries. Canada imposed 25% tariffs on $21.79bn (C$29.78bn) worth of US imports in March. Meanwhile, the Mining Association of British Columbia's 2025 economic impact study highlights 27 advanced-stage mining projects in British Columbia that could inject more than $90bn into the economy, potentially creating thousands of jobs and generating significant tax revenues. Navigate the shifting tariff landscape with real-time data and market-leading analysis. Request a free demo for GlobalData's Strategic Intelligence . "US tariffs on steel and aluminium may lead to job losses in Canada" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
