In the customs dispute with the USA, the Canadian Prime Minister Mark Carney wants to better protect his country’s steel industry with his own tariffs.
For example, tariffs of 50 percent are to be charged to imports from countries with which a free trade agreement exists, as soon as they exceed the volume of 2024, Carney announced.
Steel imports that contain melted and cast steel in China are also to be charged with tariffs of 25 percent. The United States is excluded from all of this.
In addition, Carney promised investments in the domestic steel industry and announced that they want to prefer Canadian companies in public orders in the future.
Commercial talks canceled
The Canadian steel industry is struggling with the effects of the customs conflict with the USA. Among other things, there have already been layoffs and falling production.
US President Donald Trump had repeatedly imposed new tariffs against Canada since taking office. He had announced trade talks for the time being at the end of June. The United States is by far the most important trading partner for Canada.
Ottawa (dpa-Afx)