US President Donald Trump ’s recent decision to double tariffs on steel and aluminum imports, from 25 to 50 percent, has sent shockwaves through the North American steel industry.Canada’s steel producers warn this move will cause “mass disruption” and could deeply harm workers and businesses on both sides of the border.On Friday(May 30), Trump announced the steep tariff increase during a rally at US Steel’s Mon Valley Works near Pittsburgh, asserting it would protect and revive American steel manufacturing. “This move essentially closes the US market to half of Canada’s steel production.”Cobden called on the Canadian government to respond immediately by reinstating retaliatory tariffs on US steel and aluminum imports, and by implementing new protections to prevent unfairly traded steel from flooding Canadian markets.The CSPA warns that a trade war between the two countries would have “unrecoverable consequences” for workers, businesses, and communities that depend on steel production. While some cheer the tariffs as a lifeline, others worry that retaliatory tariffs will make steel exports to Canada and Mexico more difficult, potentially leading to lost business.The US first imposed 25 percent tariffs on steel and aluminum in March, citing concerns about “dumping”, the practice of countries selling steel at a loss to undercut US producers.
Author: Global Desk
Published at: 2025-05-31 19:32:13
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