Steel

policy regula

2026-08-24 17:22:03

Bessent says Trump wants sincere talks with Canada after tariff hike

U.S. Treasury Secretary Scott Bessent said Donald Trump wants Canada to sit down for sincere negotiations after announcing higher tariffs on Canadian autos and steel. Trump said tariffs on cars, trucks, auto parts and steel would rise to 50% starting Jan. 1, 2027. He also said Canada had been "taking advantage" of the United States for years and pointed to what he described as a $60 billion trade deficit. Trump added that goods made in the U.S. would not face tariffs, and that Canada would no longer be treated "like a state." He said Canada conducts 95% of its business with the U.S., while the reverse is not true.

950

Canada

2026-08-21 15:41:44

Canada and US Trade Talks Would Add Steel Export Quotas

ChainCatcher reported, citing people familiar with the matter, that the trade agreement being negotiated by Canada and the US would introduce a quota system for Canadian steel exports. Steel shipped within the quota would face a 25% tariff, while volumes above the quota would be taxed at 50%. Canada would allow 4 million tons of steel a year to go to the US at the 25% rate and would remove its reciprocal tariffs on US steel. The report did not provide additional details on timing or implementation.

1090

Policy Regula

2026-08-19 17:45:46

Market Reports Say U.S. Plans to Halve Tariffs on Canadian Steel and Aluminum

ChainCatcher reported market chatter that the United States plans to cut tariffs on Canadian steel and aluminum by half in a trade agreement. No additional details were provided in the item, including the text of the deal, a timeline, or any further comments from the parties involved.

1150