Tag #Steel Tariffs

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theglobeandmail.com

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Jun 4, 04:14

Trump's 50% Steel, Aluminum Tariffs Escalate US-Canada Trade War

President Trump signed an executive order raising steel and aluminum tariffs on Canadian imports to 50 percent, effective Wednesday, escalating the trade war; Canada is delaying retaliatory measures until reviewing the order; the Canadian government is promoting domestic steel use.

Trump's 50% Steel, Aluminum Tariffs Escalate US-Canada Trade War

President Trump signed an executive order raising steel and aluminum tariffs on Canadian imports to 50 percent, effective Wednesday, escalating the trade war; Canada is delaying retaliatory measures until reviewing the order; the Canadian government is promoting domestic steel use.

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What are the underlying causes of the escalating trade dispute between the US and Canada, and what are the prospects for a resolution?

This tariff hike could trigger further retaliatory measures from Canada, potentially deepening the trade conflict and harming both economies. The long-term impact on Canadian industries, particularly auto manufacturing, remains uncertain despite assurances from the US ambassador. The situation highlights growing trade tensions and protectionist policies globally.

theglobeandmail.com

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Jun 4, 22:13

Canadian Steel CEO Urges Ottawa to Impose Tariffs on Foreign Steel

Algoma Steel CEO Michael Garcia is urging the Canadian government to immediately impose Section 53 tariffs on foreign steel imports to protect the domestic industry from the impact of the U.S.'s 50 percent tariff on Canadian steel and address long-standing dumping issues, while the Canadian governme...

Canadian Steel CEO Urges Ottawa to Impose Tariffs on Foreign Steel

Algoma Steel CEO Michael Garcia is urging the Canadian government to immediately impose Section 53 tariffs on foreign steel imports to protect the domestic industry from the impact of the U.S.'s 50 percent tariff on Canadian steel and address long-standing dumping issues, while the Canadian governme...

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How do unfair trade practices, such as dumping, contribute to the current challenges faced by the Canadian steel industry?

Mr. Garcia's call for Section 53 tariffs highlights the Canadian steel industry's vulnerability to U.S. trade policies and the existence of unfair trade practices from other countries. The proposed tariffs aim to mitigate the negative consequences of the U.S. tariffs and address dumping, allowing Canadian steel producers to compete more effectively in the domestic market.

de.euronews.com

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Jun 4, 16:14

US Doubles Steel and Aluminum Tariffs to 50%

The US doubled tariffs on steel and aluminum to 50%, aiming to protect domestic industries and jobs, despite concerns about job losses from higher production costs and potential international trade conflicts.

US Doubles Steel and Aluminum Tariffs to 50%

The US doubled tariffs on steel and aluminum to 50%, aiming to protect domestic industries and jobs, despite concerns about job losses from higher production costs and potential international trade conflicts.

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What are the immediate economic and geopolitical consequences of the US doubling tariffs on steel and aluminum?

Washington doubled its tariffs on steel and aluminum to 50%, aiming to exclude foreign producers from the US market. The White House claims this will strengthen US industry and eliminate a national security threat. President Trump stated that this measure will prevent foreign producers from entering the market.

news.sky.com

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Jun 4, 10:10

UK Steel Tariff Exemption Hinges on US Trade Deal Ratification

The White House conditioned the UK's exemption from increased US steel and aluminum tariffs on the ratification of a May trade pact by July 9th, affecting UK steel shipments and future orders from US customers. Until then, UK imports will remain at 25 percent compared to 50 percent for most other co...

UK Steel Tariff Exemption Hinges on US Trade Deal Ratification

The White House conditioned the UK's exemption from increased US steel and aluminum tariffs on the ratification of a May trade pact by July 9th, affecting UK steel shipments and future orders from US customers. Until then, UK imports will remain at 25 percent compared to 50 percent for most other co...

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What are the immediate economic consequences for the UK if the May trade deal with the US is not ratified by July 9th?

The White House has warned that the UK's exemption from increased US steel and aluminum tariffs hinges on the ratification of a May trade deal. Tariffs on most imports doubled to 50 percent, but UK imports remain at 25 percent until July 9th, when the rates could increase or decrease depending on deal finalization. This temporary reprieve could affect UK steel shipments and future orders from US customers.

europe.chinadaily.com.cn

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Jun 3, 07:09

US Tariff Hike on Indian Steel and Aluminum: Economic Fallout and Global Implications

On May 30, 2025, the US doubled tariffs on Indian steel and aluminum imports to 50 percent, impacting bilateral trade significantly; India is exploring retaliatory measures and alternative trade partnerships, while analysts warn of broader economic consequences.

US Tariff Hike on Indian Steel and Aluminum: Economic Fallout and Global Implications

On May 30, 2025, the US doubled tariffs on Indian steel and aluminum imports to 50 percent, impacting bilateral trade significantly; India is exploring retaliatory measures and alternative trade partnerships, while analysts warn of broader economic consequences.

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What are the immediate consequences of the US doubling tariffs on steel and aluminum imports from India?

The US administration doubled tariffs on steel and aluminum imported from India to 50 percent on May 30, 2025, impacting Indian businesses significantly. India exported \$4.56 billion of these products to the US in 2024-25, and this tariff hike threatens Indian manufacturers' competitiveness and profitability in the US market. India is exploring retaliatory measures and pursuing free trade agreements with other countries to mitigate the negative effects.

theglobeandmail.com

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Jun 2, 22:10

US Steel Tariffs Threaten Algoma Steel's Viability

Algoma Steel CEO Michael Garcia warns that President Trump's 50% tariff on Canadian steel imports could cripple its US operations, adding to existing challenges from foreign steel flooding the Canadian market due to US tariffs, impacting 2750 workers in Sault Ste. Marie, Ontario.

US Steel Tariffs Threaten Algoma Steel's Viability

Algoma Steel CEO Michael Garcia warns that President Trump's 50% tariff on Canadian steel imports could cripple its US operations, adding to existing challenges from foreign steel flooding the Canadian market due to US tariffs, impacting 2750 workers in Sault Ste. Marie, Ontario.

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What are the immediate economic consequences for Algoma Steel and the Canadian steel industry resulting from the 50% US steel tariff?

President Trump's decision to double steel tariffs to 50% significantly threatens Algoma Steel's US operations, potentially rendering them unviable unless steel prices surge. Algoma's US revenue has already dropped from 65% to 50% due to the existing 25% tariff, and further job cuts are underway.

theglobeandmail.com

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Jun 4, 22:13

Canada Delays Retaliation Amidst Increased US Tariffs

President Trump doubled tariffs on Canadian steel and aluminum to 50 percent, prompting Prime Minister Carney to temporarily suspend retaliatory measures due to ongoing negotiations; Ontario Premier Doug Ford advocates for immediate retaliation, highlighting broken agreements and potential harm to A...

Canada Delays Retaliation Amidst Increased US Tariffs

President Trump doubled tariffs on Canadian steel and aluminum to 50 percent, prompting Prime Minister Carney to temporarily suspend retaliatory measures due to ongoing negotiations; Ontario Premier Doug Ford advocates for immediate retaliation, highlighting broken agreements and potential harm to A...

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What are the underlying causes of the conflict, and what role do differing negotiating strategies between Prime Minister Carney and former Prime Minister Trudeau play?

Canada's decision to delay retaliation contrasts with previous responses under Justin Trudeau. While Ontario's Premier Doug Ford advocates for immediate action, citing broken agreements and potential harm to American consumers, Prime Minister Carney prioritizes ongoing trade and security negotiations with the U.S.

cbsnews.com

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Jun 4, 19:14

Trump Doubles Steel and Aluminum Tariffs, Raising Costs for Consumers

The Trump administration raised tariffs on imported steel and aluminum to 50%, increasing costs for numerous products, potentially impacting consumers and various industries. This move follows previous tariffs imposed in February, citing national security concerns, and is expected to further strain ...

Trump Doubles Steel and Aluminum Tariffs, Raising Costs for Consumers

The Trump administration raised tariffs on imported steel and aluminum to 50%, increasing costs for numerous products, potentially impacting consumers and various industries. This move follows previous tariffs imposed in February, citing national security concerns, and is expected to further strain ...

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How will this tariff increase affect different sectors of the U.S. economy, and what are the potential consequences for consumers?

The tariff increase builds upon previous 25% levies, aiming to reduce reliance on foreign metals and boost domestic production. However, the move contradicts the administration's stated goals of economic growth and affordability, potentially harming consumers and various industries. This action increases costs for manufacturers, who are expected to pass these costs on to consumers, leading to higher prices.

theguardian.com

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Jun 4, 04:14

UK avoids 50% US steel tariffs, but 25% levy remains

The White House announced that the UK will be exempt from 50% steel and aluminum tariffs, but a 25% tariff remains, potentially rising to 50% in July if a recent US-UK trade deal's conditions are unmet.

UK avoids 50% US steel tariffs, but 25% levy remains

The White House announced that the UK will be exempt from 50% steel and aluminum tariffs, but a 25% tariff remains, potentially rising to 50% in July if a recent US-UK trade deal's conditions are unmet.

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What are the underlying causes of the uncertainty surrounding the final tariff rates?

This decision follows a trade deal between the US and UK, aiming to alleviate tariffs on steel and aluminum. The 25% tariff remains a significant obstacle for UK businesses, creating uncertainty and potentially impacting future orders. The UK government expressed relief, but acknowledged ongoing concerns.

faz.net

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Jun 4, 16:15

Merz Seeks US Steel Deal Amid Trump Tariff Increase

German Chancellor Friedrich Merz travels to the US seeking a bilateral steel agreement amid Donald Trump's doubled steel tariffs, impacting German steel exports (around 20% of non-EU exports) and causing industry uncertainty due to global overcapacity and the need for green transformation.

Merz Seeks US Steel Deal Amid Trump Tariff Increase

German Chancellor Friedrich Merz travels to the US seeking a bilateral steel agreement amid Donald Trump's doubled steel tariffs, impacting German steel exports (around 20% of non-EU exports) and causing industry uncertainty due to global overcapacity and the need for green transformation.

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What immediate impact will Donald Trump's recent tariff increase have on the German steel industry's exports to the US?

German Chancellor Friedrich Merz's upcoming trip to the US carries high hopes for the German steel industry, which is seeking a bilateral steel agreement with the US. However, Donald Trump's recent doubling of steel and aluminum import tariffs complicates matters, creating uncertainty and potentially worsening the industry's challenges.

theguardian.com

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Jun 3, 13:13

UK Seeks US Steel Tariff Exemption, Highlighting Industrial Policy Imbalance

UK Trade Secretary Jonathan Reynolds will meet US Trade Representative Jamieson Greer on Wednesday to negotiate a UK exemption from US steel tariffs, despite the steel industry's small contribution to the UK economy (0.1%), highlighting potential concessions and a perceived bias towards traditional ...

UK Seeks US Steel Tariff Exemption, Highlighting Industrial Policy Imbalance

UK Trade Secretary Jonathan Reynolds will meet US Trade Representative Jamieson Greer on Wednesday to negotiate a UK exemption from US steel tariffs, despite the steel industry's small contribution to the UK economy (0.1%), highlighting potential concessions and a perceived bias towards traditional ...

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How does the UK's prioritization of the steel industry, despite its relatively small economic contribution, reflect broader political biases and priorities?

The UK's pursuit of a steel tariff exemption underscores a larger imbalance in how different sectors are valued within the political landscape. While the steel industry's contribution is minimal (0.1% of GDP), it receives significant political attention, unlike larger contributors like universities (£71bn) or creative industries (£124bn). This disparity suggests a bias towards traditional, 'masculine' industries.

theglobeandmail.com

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Jun 2, 13:14

Trump's Tariff Hike Triggers Stock Market Dip

President Trump's announcement on Friday to double tariffs on imported steel and aluminum to 50%, starting Wednesday, caused U.S. stock index futures to dip, amplifying concerns about trade volatility and reversing recent positive market sentiment. The Dow, S&P 500, and Nasdaq all saw significant de...

Trump's Tariff Hike Triggers Stock Market Dip

President Trump's announcement on Friday to double tariffs on imported steel and aluminum to 50%, starting Wednesday, caused U.S. stock index futures to dip, amplifying concerns about trade volatility and reversing recent positive market sentiment. The Dow, S&P 500, and Nasdaq all saw significant de...

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What are the potential long-term economic consequences of the current uncertainty surrounding U.S. trade policies?

The uncertainty surrounding U.S. trade policy, as exemplified by the sudden tariff increase, will likely persist, potentially impacting investor confidence and economic growth. The conflicting signals from the administration, coupled with ongoing geopolitical tensions, create an unpredictable environment for businesses and markets. This unpredictability could lead to further market volatility and reduced investment.

Showing 13 to 24 of 71 results