Latest news with #CanadianIndustry
CNA
12 hours ago
- Business
- CNA
Canada Warns Of More Duties On US Steel And Aluminum If No Deal Is Reached
OTTAWA: Canada could increase counter-tariffs on US-produced steel and aluminum if it fails to reach a broader trade agreement with President Donald Trump within 30 days, Prime Minister Mark Carney said on Thursday (Jun 19). Speaking at a press conference, Carney said Canada would adjust its existing countermeasures on Jul 21 depending on progress made in the ongoing trade talks with Washington. "Canada will adjust its existing counter-tariffs on US steel and aluminum products on July 21 to levels consistent with progress made in the broader trading agreement with the United States," Carney said. TARIFF DISPUTE ESCALATES Trump raised import duties on steel and aluminum to 50 per cent from 25 per cent earlier this month, a move that triggered backlash from Canadian industry leaders and demands for a strong response. Canada is the largest exporter of these metals to the United States. Carney said he had agreed with Trump to try and finalize a new economic and security agreement by Jul 21. Until then, Canada will refrain from immediately matching the US hike in order to allow for progress in the negotiations. In March, Canada had already imposed 25 per cent retaliatory tariffs on steel products worth C$12.6 billion and aluminum worth C$3 billion. PROCUREMENT AND DOMESTIC MEASURES As part of Thursday's announcement, Carney unveiled new procurement rules that will prioritize domestic producers. Canadian firms and international partners with reciprocal, tariff-free access will now be allowed to compete for federal contracts involving steel and aluminum. The Canadian government will also implement new tariff-rate quotas set at 100 per cent of 2024 levels for steel imports from non-free trade agreement countries. This is intended to stabilize the domestic market and prevent harmful trade diversion. "We are united in working on all forms of support for the industry... that starts with buying Canadian steel and aluminum for federal projects," Carney said. Canada exports more than 90 per cent of its total steel and aluminum to the US, and imports about one-fifth of US steel and half of its aluminum, according to the Royal Bank of Canada. This underscores the deep integration of metals trade between the two nations. Under Carney's leadership, Canada has launched major infrastructure initiatives—from defense to energy and housing—that are expected to require massive amounts of steel and aluminum.
Yahoo
31-05-2025
- Business
- Yahoo
Arrow Exploration First Quarter 2025 Earnings: EPS: US$0.009 (vs US$0.011 in 1Q 2024)
Revenue: US$19.5m (up 35% from 1Q 2024). Net income: US$2.66m (down 16% from 1Q 2024). Profit margin: 14% (down from 22% in 1Q 2024). The decrease in margin was driven by higher expenses. EPS: US$0.009 (down from US$0.011 in 1Q 2024). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period Looking ahead, revenue is expected to decline by 4.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 2.5%. Performance of the Canadian Oil and Gas industry. The company's shares are down 3.2% from a week ago. You still need to take note of risks, for example - Arrow Exploration has 1 warning sign we think you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBC
23-05-2025
- Business
- CBC
Rules of trade are being 'rewritten': Minister Joly
After meeting with a delegation of U.S. senators, Industry Minister Mélanie Joly joins Power & Politics to discuss efforts to bolster Canadian industry amid the changing trade relationship with the U.S.
Yahoo
11-05-2025
- Business
- Yahoo
Sandstorm Gold First Quarter 2025 Earnings: Revenues Disappoint
Revenue: US$50.1m (up 17% from 1Q 2024). Net income: US$10.5m (up from US$4.20m loss in 1Q 2024). Profit margin: 21% (up from net loss in 1Q 2024). The move to profitability was primarily driven by higher revenue. EPS: US$0.036 (up from US$0.014 loss in 1Q 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) was mostly in line with analyst estimates. Looking ahead, revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Metals and Mining industry in Canada. Performance of the Canadian Metals and Mining industry. The company's shares are up 6.6% from a week ago. Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Sandstorm Gold's balance sheet health. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
10-05-2025
- Business
- Yahoo
Saturn Oil & Gas First Quarter 2025 Earnings: Revenues Beat Expectations, EPS Lags
Revenue: CA$242.1m (up 61% from 1Q 2024). Net income: CA$37.8m (up from CA$63.0m loss in 1Q 2024). Profit margin: 16% (up from net loss in 1Q 2024). The move to profitability was primarily driven by higher revenue. EPS: CA$0.19 (up from CA$0.42 loss in 1Q 2024). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 53%. Looking ahead, revenue is expected to decline by 4.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 1.3%. Performance of the Canadian Oil and Gas industry. The company's shares are up 5.0% from a week ago. Before you take the next step you should know about the 3 warning signs for Saturn Oil & Gas (1 is significant!) that we have uncovered. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
