Latest news with #Canada-US
eNCA
13 hours ago
- Business
- eNCA
Canada will 'adjust' counter tariffs on US metals if no deal in 30 days
OTTAWA - Canada will "adjust" its 25 percent counter tariffs on US steel and aluminium in response to a doubling of US levies if a bilateral trade deal is not reached within 30 days, Prime Minister Mark Carney said. "Canada will adjust its existing counter tariffs on US steel and aluminium products on the 21st of July, at the end of that 30-day period," he said. Carney also announced a raft of measures to support the Canadian steel and aluminium sectors facing 50 percent US tariffs, including procurement rules that favour domestic suppliers and anti-dumping measures. Canada is the largest supplier of foreign steel and aluminium to the United States, and Carney earlier this month had denounced the doubling of US tariffs on Canadian imports of steel and aluminium, calling them "unjustified" and "illegal." At the same time, Canada and the United States launched "intensive discussions" to rewrite Canada-US trade relations. G7 leaders at the Group of Seven summit in Canada on Monday pushed US President Donald Trump to back away from his punishing trade war. After Carney and Trump met on the sidelines of the summit, the Canadian government indicated the two sides could reach a trade deal within the next 30 days. The talks are ongoing. A good outcome in those negotiations, Carney said Thursday, would be to "stabilise the trading relationship with the United States" and "ready access to US markets for Canadian companies" while "not having our hands tied in terms of our dealings with the rest of the world." Canada exported 5.95 million tonnes of steel and 3.15 million tonnes of aluminium to the United States last year, according to US government data.
The Sun
18 hours ago
- Business
- The Sun
Canada will ‘adjust' counter tariffs on US metals if no deal in 30 days
OTTAWA: Canada will 'adjust' its 25 percent counter tariffs on US steel and aluminum in response to a doubling of US levies if a bilateral trade deal is not reached within 30 days, Prime Minister Mark Carney said Thursday. 'Canada will adjust its existing counter tariffs on US steel and aluminum products on the 21st of July, at the end of that 30-day period,' he said. Carney also announced a raft of measures to support the Canadian steel and aluminum sectors facing 50 percent US tariffs, including procurement rules that favor domestic suppliers and anti-dumping measures. Canada is the largest supplier of foreign steel and aluminum to the United States, and Carney earlier this month had denounced the doubling of US tariffs on Canadian imports of steel and aluminum, calling them 'unjustified' and 'illegal.' At the same time, Canada and the United States launched 'intensive discussions' to rewrite Canada-US trade relations. G7 leaders at the Group of Seven summit in Canada on Monday pushed US President Donald Trump to back away from his punishing trade war. After Carney and Trump met on the sidelines of the summit, the Canadian government indicated the two sides could reach a trade deal within the next 30 days. The talks are ongoing. A good outcome in those negotiations, Carney said Thursday, would be to 'stabilize the trading relationship with the United States' and 'ready access to US markets for Canadian companies' while 'not having our hands tied in terms of our dealings with the rest of the world.' Canada exported 5.95 million tonnes of steel and 3.15 million tonnes of aluminum to the United States last year, according to US government data.
The Sun
18 hours ago
- Business
- The Sun
Canada will ‘adjust' counter tariffs on US metals if no deal
OTTAWA: Canada will 'adjust' its 25 percent counter tariffs on US steel and aluminum in response to a doubling of US levies if a bilateral trade deal is not reached within 30 days, Prime Minister Mark Carney said Thursday. 'Canada will adjust its existing counter tariffs on US steel and aluminum products on the 21st of July, at the end of that 30-day period,' he said. Carney also announced a raft of measures to support the Canadian steel and aluminum sectors facing 50 percent US tariffs, including procurement rules that favor domestic suppliers and anti-dumping measures. Canada is the largest supplier of foreign steel and aluminum to the United States, and Carney earlier this month had denounced the doubling of US tariffs on Canadian imports of steel and aluminum, calling them 'unjustified' and 'illegal.' At the same time, Canada and the United States launched 'intensive discussions' to rewrite Canada-US trade relations. G7 leaders at the Group of Seven summit in Canada on Monday pushed US President Donald Trump to back away from his punishing trade war. After Carney and Trump met on the sidelines of the summit, the Canadian government indicated the two sides could reach a trade deal within the next 30 days. The talks are ongoing. A good outcome in those negotiations, Carney said Thursday, would be to 'stabilize the trading relationship with the United States' and 'ready access to US markets for Canadian companies' while 'not having our hands tied in terms of our dealings with the rest of the world.' Canada exported 5.95 million tonnes of steel and 3.15 million tonnes of aluminum to the United States last year, according to US government data.
Business Times
19 hours ago
- Business
- Business Times
Canada will ‘adjust' counter tariffs on US metals if no deal in 30 days
[OTTAWA] Canada will 'adjust' its 25 per cent counter tariffs on US steel and aluminum in response to a doubling of US levies if a bilateral trade deal is not reached within 30 days, Prime Minister Mark Carney said on Thursday. 'Canada will adjust its existing counter tariffs on US steel and aluminum products on the 21st of July, at the end of that 30-day period,' he said. Carney also announced a raft of measures to support the Canadian steel and aluminum sectors facing 50 per cent US tariffs, including procurement rules that favour domestic suppliers and anti-dumping measures. Canada is the largest supplier of foreign steel and aluminum to the United States, and Carney earlier this month had denounced the doubling of US tariffs on Canadian imports of steel and aluminum, calling them 'unjustified' and 'illegal.' At the same time, Canada and the United States launched 'intensive discussions' to rewrite Canada-US trade relations. G7 leaders at the Group of Seven summit in Canada on Monday pushed US President Donald Trump to back away from his punishing trade war. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up After Carney and Trump met on the sidelines of the summit, the Canadian government indicated the two sides could reach a trade deal within the next 30 days. The talks are ongoing. A good outcome in those negotiations, Carney said Thursday, would be to 'stabilise the trading relationship with the United States' and 'ready access to US markets for Canadian companies' while 'not having our hands tied in terms of our dealings with the rest of the world.' Canada exported 5.95 million tonnes of steel and 3.15 million tonnes of aluminum to the United States last year, according to US government data. AFP
Straits Times
4 days ago
- Business
- Straits Times
Carney says he and Trump are aiming for a Canada-US deal inside 30 days
Canadian Prime Minister Mark Carney (right) and US President Donald Trump met on the sidelines of a G-7 summit in Alberta. PHOTO: REUTERS Carney says he and Trump are aiming for a Canada-US deal inside 30 days KANANASKIS - In a surprise move, Canadian Prime Minister Mark Carney said on J une 16 he had agreed with US President Donald Trump that their two nations should try to wrap up a new economic and security deal within 30 days. The announcement came only a few hours after Canadian officials said the two sides still had plenty of work ahead before they could seal the agreement. Mr Carney, who won the April election on the back of a promise to fight Trump's tariffs, is pushing for what he calls a new economic and security relationship with the United States. The two men had earlier met on the sidelines of a G-7 summit in Alberta, with Mr Trump reiterating his fondness for tariffs. 'Prime Minister Carney and President Trump ... shared updates on key issues raised in negotiations on a new economic and security relationship between Canada and the US,' Mr Carney's office said in a statement. 'To that end, the leaders agreed to pursue negotiations toward a deal within the coming 30 days.' A Carney spokesperson confirmed the wording of the statement meant the two sides wanted a deal in the next 30 days. Mr Carney's office did not immediately respond when asked whether the statement meant Ottawa had accepted the idea that some US tariffs would stay. Mr Trump said earlier that a new deal with Canada was possible but stressed tariffs had to play a role, a position that the Canadian government strongly opposes. 'I have a tariff concept. Mark has a different concept ... we're going to see if we can get to the bottom of it,' Mr Trump said. 'I'm a tariff person.' Canada, the top supplier of steel and aluminium to the United States, faces tariffs imposed by Mr Trump on both metals as well as on auto exports. Mr Carney said last week the countries were in intense negotiations over the tariffs and that Canada was preparing reprisals if those negotiations do not succeed. Optimism that a deal could be concluded quickly had faded over the past 10 days, with Canadian officials saying privately the United States appears to be in no rush. 'We are in the middle of a discussion - we are not at the end of the discussion. Our position is that we should have no tariffs on Canadian exports to the United States,' said Ms Kirsten Hillman, Canada's ambassador to Washington. 'We will continue to talk until we find a deal that is the best deal we can achieve for Canada,' she told reporters after Mr Carney met Mr Trump. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
