Latest news with #JeanSimard
Yahoo
05-07-2025
- Business
- Yahoo
Canada could financially back aluminum producers if 50% U.S. tariffs persist, trade group says
MONTREAL (Reuters) -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. 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. "It's part of a larger discussion where everything is on the table," Simard said, adding that no decision has been reached. "With the 50% tariff in effect since June 4, it's normal that there are discussions, among other things, about the impact on businesses' liquidity if the situation persists over time." Around half of all aluminum used in the U.S. is imported, with the vast majority coming from Canada, which exported 3.2 million tons of the metal to the United States last year. 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. Joly was said to have mentioned the talks during a meeting on Thursday with business leaders in Quebec's Saguenay region, a significant hub for aluminum production also known as Canada's Aluminum Valley. Rio Tinto declined comment on Saturday. A spokesperson for Joly was not immediately available for comment. 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-07-2025
- Business
- Yahoo
Canada could financially back aluminum producers if 50% U.S. tariffs persist, trade group says
MONTREAL (Reuters) -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. 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. "It's part of a larger discussion where everything is on the table," Simard said, adding that no decision has been reached. "With the 50% tariff in effect since June 4, it's normal that there are discussions, among other things, about the impact on businesses' liquidity if the situation persists over time." Around half of all aluminum used in the U.S. is imported, with the vast majority coming from Canada, which exported 3.2 million tons of the metal to the United States last year. 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. Joly was said to have mentioned the talks during a meeting on Thursday with business leaders in Quebec's Saguenay region, a significant hub for aluminum production also known as Canada's Aluminum Valley. Rio Tinto declined comment on Saturday. A spokesperson for Joly was not immediately available for comment. 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. Sign in to access your portfolio
Reuters
05-07-2025
- Business
- Reuters
Canada could financially back aluminum producers if 50% U.S. tariffs persist, trade group says
MONTREAL, July 5 (Reuters) - Canada has discussed offering financial support to large aluminum producers like Rio Tinto (RIO.L), opens new tab 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. 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. "It's part of a larger discussion where everything is on the table," Simard said, adding that no decision has been reached. "With the 50% tariff in effect since June 4, it's normal that there are discussions, among other things, about the impact on businesses' liquidity if the situation persists over time." Around half of all aluminum used in the U.S. is imported, with the vast majority coming from Canada, which exported 3.2 million tons of the metal to the United States last year. 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. Joly was said to have mentioned the talks during a meeting on Thursday with business leaders in Quebec's Saguenay region, a significant hub for aluminum production also known as Canada's Aluminum Valley. Rio Tinto declined comment on Saturday. A spokesperson for Joly was not immediately available for comment. 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.
Cision Canada
04-07-2025
- Business
- Cision Canada
Renewal of Aluminerie Alouette's power contract
Securing the future of low-carbon Quebec aluminum for America and Europe. MONTREAL, July 4, 2025 /CNW/ - The announcement of the agreement in principle on the renewal of the power supply contract between Aluminerie Alouette, the Quebec government and Hydro-Québec confirms the key role played by the largest aluminum smelter in the Americas in the Quebec economy and in aluminum markets here in North America and Europe. According to Jean Simard, President of the Aluminum Association of Canada, "Aluminerie Alouette, thanks to its proximity to the port facilities of Sept-Iles, has the option of North American and European markets, a considerable logistical advantage in a commodity market subject to the vagaries of global geopolitics." At a time when Canada is committed to market diversification, in order to solidify its position on the international economic stage," adds Mr. Simard, "this agreement between Aluminerie Alouette and its partners, the Quebec government and Hydro-Québec, sends a powerful signal to North American and European markets about the place that Quebec's low-carbon aluminum will continue to occupy in the future." The investments planned for the next 20 years will enable the company to modernize its Sept-Iles plant, one of the most efficient in the world, while continuing its efforts to reduce its carbon footprint. 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.
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.
