Canada's steel industry faces new tariff headaches
5/4/202620 min
U.S. President Donald Trump dangled a carrot in front of Canada’s steel industry recently, offering a break on tariffs if steel companies commit to moving production to the U.S. Meanwhile, his administration has introduced new and different calculations for tariffs on manufactured goods. All this adds up to a Canadian steel industry that's facing uncertainty, layoffs and upheaval.
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First 90 secondsMarty Warren· Guest0:00
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Matt Galloway· Host0:01
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Matt Galloway· Host0:38
[upbeat music] This is a CBC podcast. Hello, I'm Matt Galloway, and this is The Current podcast. US President Donald Trump dangled a carrot in front of Canada's steel industry last month. He offered immediate tariff relief if steel companies commit to moving production to the United States in the future. This comes after a change in metal tariffs at the beginning of April. The United States is now charging a 25% tariff on the entire value of imported goods made from steel, aluminum, and copper, and trade tensions in that industry are perhaps as high as they have ever been. The Deputy US Trade Representative, Rick Switzer, accused Prime Minister Mark Carney of acting, in his words, superior, and going out of his way to antagonize the United States. Meanwhile, the economic impacts of steel tariffs are continuing to bite all the way down the supply chain.