Overview

• President Trump’s June 4 executive order doubles section 232 duties on imported steel and aluminum from 25 percent to 50 percent for nearly all trading partners.
• Canada, which supplies about two-thirds of US aluminum and more steel than any other country, currently maintains reciprocal tariffs on over CAD 90 billion of US goods.
• Prime Minister Mark Carney has branded the tariff hike “unjustified and illegal” while coordinating intensive talks and direct calls with the White House.
• Industry Minister Mélanie Joly has met with steel executives and union leaders but says Ottawa will hold off on new levies until talks conclude.
• Analysts warn the higher duties could add roughly USD 15 billion in costs for American consumers and threaten thousands of jobs in North American manufacturing.