US EditionCanada Says Close Relationship With U.S. ‘Has Ended’
Mark Carney announced tariffs, import limits, and a Buy Canadian policy to protect domestic steel and lumber sectors after U.S. tariffs disrupted decades of trade integration.
- On Wednesday, Mark Carney announced a package of protectionist measures to support Canada's steel and lumber industries on Ottawa's Parliament Hill.
- Facing import pressure, Canada's government cited steep tariffs President Donald Trump imposed and rising Chinese steel imports as reasons for protective measures.
- Specifically, the plan cuts non‑FTA steel imports from 50 to 20 per cent of 2024 levels, reduces quotas to 75 per cent, and imposes a 25 per cent tariff, according to Carney.
- Tourism figures indicate Canadian travellers returning from the United States in September fell by a third compared with last year, with Canadians making up 28 per cent of 72.4 million U.S. visitors this month, costing billions and hurting travel-related services.
- The shift could signal a broader realignment, as Carney said, `We know that this decades long process of our ever-closer economic relationship between Canada and the United States has ended, and as a consequence of that, many of our strengths have become our vulnerabilities, particularly in those industries that are most tightly integrated with the United States`.
10 Articles
10 Articles
How Carney Needs a New Playbook to Counter Trump in Trade Talks
(Bloomberg) — Mark Carney came to power in Canada by pitching himself as an economic crisis fighter who could fix the country’s ruptured relationship with the US. Seven months after he won a national election, the economy is in a fragile state, and a trade truce with the Trump administration has been elusive.
Carney: Canada-US Trade Era Over as Ottawa Unveils Steel, Lumber Relief
Canada’s once-cozy trade relationship with the U.S. has ended amid President Donald Trump’s tariffs, Canadian Prime Minister Mark Carney said, according to CTV."We know that this decades-long process of our ever-closer economic relationship between Canada and the United States has ended, and as a consequence of that, many of our strengths have become our vulnerabilities, particularly in those industries that are most tightly integrated with the …
Carney: Canada-US Trade Era Over as Ottawa Unveils Steel, Lumber Relief
Canada’s once-cozy trade relationship with the U.S. has ended amid President Donald Trump’s tariffs, Canadian Prime Minister Mark Carney said, according to CTV."We know that this decades-long process of our ever-closer economic relationship between Canada and the United States has ended, and as a consequence of that, many of our strengths have become our vulnerabilities, particularly in those industries that are most tightly integrated with the …
Carney: Canada-US Trade Era Over as Ottawa Unveils Steel, Lumber Relief
Canada’s once-cozy trade relationship with the U.S. has ended amid President Donald Trump’s tariffs, Canadian Prime Minister Mark Carney said, according to CTV."We know that this decades-long process of our ever-closer economic relationship between Canada and the United States has ended, and as a consequence of that, many of our strengths have become our vulnerabilities, particularly in those industries that are most tightly integrated with the …
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