Canada warns of retaliation without Trump agreement

OTTAWA, Canada: Canada may boost its counter-tariffs on steel and aluminum imported from the U.S. if a comprehensive trade agreement with President Donald Trump is not finalized within the next 30 days, Prime Minister Mark Carney announced this week.
Earlier this month, Trump raised import duties on these metals from 25 percent to 50 percent, prompting the industry to call for Canada to respond officially. This decision could negatively impact Canada, the largest supplier of steel and aluminum to the U.S.
Carney stated that he had reached a mutual agreement with Trump to aim for a new economic and security deal by July 21. He emphasized that, based on the progress achieved in the trade negotiations, Canada would modify its existing counter-tariffs on U.S. steel and aluminum products by that date.
While Carney did not immediately respond to Trump's recent tariff increase, he expressed the desire to see advancements in talks focused on establishing a stronger economic and security alliance.
Earlier this year, on March 13, Canada enacted 25 percent retaliatory tariffs on steel products worth C$12.6 billion and aluminum products worth C$3 billion.
Furthermore, Canada is introducing new procurement policies that allow Canadian producers and trading partners with tariff-free access to compete for federal contracts involving steel and aluminum.
Carney also indicated that Canada intends to create new tariff-rate quotas equal to 100 percent of 2024 levels for steel imported from nations without free trade agreements, aiming to stabilize the domestic market and prevent detrimental trade shifts.
Approximately 90 percent of Canada's steel and aluminum exports go to the U.S., while Canada consumes about 20 percent of U.S. steel exports and 50 percent of U.S. aluminum exports, according to the Royal Bank of Canada, underscoring the importance of this trade relationship.
Under Carney's leadership, Canada is advancing numerous infrastructure projects, including those related to defense and housing, which will significantly increase the demand for steel and aluminum.
"We are committed to supporting the industry by prioritizing Canadian steel and aluminum in federal projects," Carney stated during a press conference.

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Toronto Sun

37 minutes ago

• Toronto Sun

Prime Minister Mark Carney visits military cemetery in Brussels ahead of EU-Canada summit

Published Jun 23, 2025 • 3 minute read Canadian Prime Minister Mark Carney (R) and his wife Diana Fox Carney (2nd R) attend a wreath laying during a visit to the Schoonselhof cemetery, on the sidelines of an EU-Canada summit, in Antwerp, on June 23, 2025. Photo by JASPER JACOBS / AFP BRUSSELS — Prime Minister Mark Carney began official events for his four-day trip to Europe Monday by visiting a military cemetery in Belgium before a meeting with European counterparts at the EU-Canada summit. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Carney said on social media Sunday he was in Brussels to launch 'a new era of partnership' between Canada and the European Union to benefit workers, businesses and security 'on both sides of the Atlantic.' Carney started the day with a visit to the Antwerp Schoonselhof Military Cemetery, where 348 Canadian soldiers are buried. Carney toured the cemetery alongside his wife, Diana Fox Carney, and Belgian Prime Minister Bart De Wever. Carney also took part in a wreath-laying ceremony with Foreign Affairs Minister Anita Anand and National Defence Minister David McGuinty. Stephane Dion, special envoy to the European Union and Europe, also attended. 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Cision Canada

40 minutes ago

• Cision Canada

RBC Global Asset Management Inc. announces change to the investment strategies and management fee reduction for RBC Quant Emerging Markets Dividend Leaders ETF Français

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Canada Standard

44 minutes ago

• Canada Standard

'Call upon Canadian friends to deepen bilateral collaboration in countering terrorism, extremism', Union Minister Hardeep Singh

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