US EditionDonald Trump’s Steel Tariffs Prompt Anger and Warnings of ‘Catastrophic’ Job Cuts in Canada
- U.S. President Donald Trump announced on Friday, May 30, 2024, at a Pennsylvania rally that steel tariffs on imports will increase from 25% to 50%.
- Trump framed the tariff hike as protection for U.S. Steel, following a March 25% tariff and amid ongoing tensions with China and trade disputes.
- Canada’s steel sector, valued at about $11 billion and employing 23,000 workers plus 100,000 indirect jobs, warned the 50% tariffs will disrupt integrated supply chains and cause factory slowdowns.
- CSPA president Catherine Cobden called the 25% tariff difficult and the 50% tariff catastrophic, saying it essentially closes half of the U.S. Market to Canadian producers.
- The Canadian government and industry leaders urge immediate retaliatory tariffs and warn the trade conflict risks unrecoverable damage to North American steel jobs and communities.
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Trump’s new tariff threat ‘punch in the gut’ to Canada's steel industry: CSPA
Catherine Cobden, head of the Canadian Steel Producers Association, says U.S. President Donald Trump's new threat, to double tariffs steel and aluminum tariffs to 50 per cent, ‘completely unjustified’ and Ottawa should quickly impose retaliatory tariffs. Read more: https://www.cbc.ca/1.7548855
·Canada
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'Catastrophic' job losses: Canada's steel industry trembles as Trump announces sharp tariff rise
The move to increase tariffs drew swift criticism from Canadian officials and industry leaders, who said the tariffs threaten to devastate a sector already under strain from earlier trade measures
·Mumbai, India
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33% Right
L 33%
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R 33%
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