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Thursday, 13 March 2025
Canada announces more US tariffs as trade war with Trump deepens.
Canada has unveiled reciprocal tariffs against American steel and aluminium. (Reuters: Carlos Osorio)
In short:
Canada
has imposed a further $32.8 billion in retaliatory tariffs against
American imports, in response to Donald Trump's 25 per cent levy on all
steel and aluminium imports into the US.
Canada is the biggest source of imported steel and aluminium into the United States.
What's next?
Other countries, including Australia, the UK and Mexico, are yet to implement any counter-measures to Mr Trump's tariffs.
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Canada's
government has announced a further C$29.8 billion ($32.8 billion) in
retaliatory tariffs against the United States as the trade war between
the two neighbouring countries deepens.
The
new 25 per cent tariffs come a day after US President Donald Trump
announced — and then rescinded — a doubling of tariffs against Canadian
steel and aluminium imports from 25 to 50 per cent.
Canada is the biggest foreign supplier of steel and aluminium to the United States.
In
the latest tranche of tariffs, announced in response to Mr Trump's
levies against all international imports of steel and aluminium, would
target steel and aluminium imports from the US.
Canadian Prime Minister Justin Trudeau has been critical of the US' tariffs. (AP: Sean Kilpatrick/The Canadian Press)
A
further C$14.2 billion ($15.6 billion) of American products such as
computers, sports equipment and cast iron products would also be
subjected to increased import levies.
Tensions
between the US and Canada have been worsening after Mr Trump announced
plans to levy tariffs against Canadian imported products in February,
which came into effect in March.
Canada's
latest counter-tariffs came after Mr Trump made good on his promise to
levy 25 per cent tariffs against all imports of aluminium and steel into
the US.
Australia, which had been angling for an exemption, was not spared, with Prime Minister Anthony Albanese describing the move as "not a friendly act".
British
Prime Minister Keir Starmer said he was "disappointed" to see tariffs
imposed on UK goods, but did not announce any reciprocal levies on
American steel and aluminium.
"We
are … negotiating an economic deal which covers and will include
tariffs if we succeed, but we will keep all options on the table," he
said.
The EU announced on
Wednesday it would levy $45 billion in tariffs against US industries in
response to Mr Trump's tariffs on metal imports.
Mexican
President Claudia Sheinbaum said Mexico would not respond to Mr Trump's
steel and aluminium levies with counter-tariffs until at least April
2.
The escalation of the US-Canada trade war occurred as Prime Minister Justin Trudeau prepared to hand over power this week to his successor Mark Carney, who won the leadership race of the ruling Liberals on Sunday.
Mr Trump on Tuesday again publicly floated the idea of Canada becoming the fifty-first state of the US.
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