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Prime Minister Mark Carney says Canada will take “some time” on its response to increased U.S. tariffs on steel and aluminum.
Tariffs on imports of steel and aluminum to the United States increased to 50 per cent Wednesday after President Donald Trump followed through on his vow to double the duties.
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On his way into the weekly Liberal caucus meeting in Ottawa today, Carney said Canada is in “intensive” discussions with the U.S. on trade.
Trump signed an executive order Tuesday to increase the levies from their previous rate of 25 per cent, claiming it was necessary to protect national security and industries in the United States.
Carney said the tariffs are “unlawful and unjustified” and predicted they will harm American industry and workers.
The prime minister also noted that Canada currently has retaliatory tariffs in place on $90 billion worth of U.S. goods. It is now considering its response to Trump’s latest escalation.
“We will take some time — not much, some time — because we are in intensive discussions right now with the Americans on our trading relationship,” Carney said when asked about his government’s response to the increased tariffs.
“Those discussions are progressing. I would note that the American action is global action. It’s not one targeted at Canada. So we’ll take some time, but not more.”
The latest tariff increase doesn’t apply to imports from the United Kingdom, which remain at 25 per cent while the Trump administration works out details of a trade deal announced last month.
About a quarter of all steel used in the United States is imported and Canada is its largest supplier.
The Canadian steel and aluminum industries say doubling the tariffs will have a devastating impact, while economists warn the higher tariffs could also lead to cost increases for Americans.
—With files from David Baxter in Ottawa.
