Trump administration backs down on 50 percent tariffs for Canada following Canadian concessions on power price hikes
Following earlier reports that the Trump administration would impose doubled 50 percent tariffs on Canadian exports of steel and aluminum in reaction to an earlier decision by the Canadian government to impose 25 percent increases in electricity prices to Michigan, Minnesota and New York, administration officials said later today that US will drop the additional tariffs against Canada, defaulting to the original 25 percent tax on metals scheduled... Read More
Trump administration doubles tariffs against Canada to 50 percent effective March 12
The Trump administration announced a doubling of import tariffs on Canadian steel and aluminum to 50 percent effective tomorrow, March 12, in reaction to a decision by Ontario’s government to slap a 25 percent tax on electricity exports to the US, President Trump said in extensive remarks on his social media platform Truth Social. “Based on Ontario, Canada, placing a 25 percent tariff on electricity coming into the United States, I have instructed... Read More
Trump administration’s Canada tariff policy on goods covered under USMCA to be delayed
Following today’s reversal on 25 percent tariffs levied against Mexico March 4, reports indicate the Trump administration has now delayed the implementation of 25 percent tariffs on Canada for its exported products covered under the previous USMCA agreement until April 2. On April 2, the Trump administration plans to begin in-kind reciprocal tariffs against all countries taxing the import of US goods. The rates, products and countries affected by... Read More
US officially slaps tariffs on Canada and Mexico, doubles tariffs on China
The US government has officially implemented 25 percent tariffs on all imports from its two leading trading partners Canada and Mexico as of today, March 4, according to a statement made by the White House. Also, energy imports from Canada will be subject to 10 percent tariffs. In early February this year, while postponing the tariffs in question, US President Donald Trump gave the Canadian and Mexican administrations 30 days to curb what he described... Read More
Trump announces 25% tariff on steel and aluminum imports
US President Donald Trump has announced 25 percent tariffs on foreign steel and aluminum imports on Monday, February 10. Trump stated that the tariffs, which will apply to the products from trading partners with duty-free exemptions or tariff-rate quota deals, including Canada, Mexico, Australia, Argentina, Brazil, South Korea, the EU, Japan and the UK, will be effective as of March 12, 2025. However, a White House official subsequently stated that... Read More
Trump postpones tariffs on Canada and Mexico for 30 days
US President Donald Trump has stated via social media that he has decided to postpone the recently announced additional 25 percent tariffs on imports from Canada and Mexico. Following the tariff announcements, Trump held conversations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, in which he expressed his concerns regarding border security. The Canadian and Mexican administrations made various commitments to... Read More
US officially imposes tariffs on Canada, Mexico and China
US President Donald Trump has imposed 25 percent additional tariffs on imports from Canada and Mexico and a 10 percent additional tariff on imports from China with the aim of ensuring national security and protecting the interests of Americans, according to a statement released by the White House. The tariffs in question will remain in force until the subject countries meet President Trump’s requirements. In the meantime should these countries... Read More
Short Range Outlook : January 2025
Pressure still rising in global longs market, some answers expected after January 20 The pressure in the global long steel products market is increasing as there is no positive news from China yet, while everywhere there is weak demand, market protection and excess capacity. Some questions about the future are expected to receive answers after Trump’s inauguration on January 20 Still no positive news heard from China Chinese export data for November... Read More
Canada issues final antidumping duty margins on rebar imports from three countries
The Canada Border Services Agency (CBSA) has announced the final determination of its antidumping (AD) duty investigation against rebar from Bulgaria, Thailand and the United Arab Emirates (UAE). The determined dumping margins are as afollows: Promet Steel JSC – Bulgaria : 15.9 percent Tata Steel Manufacturing (Thailand) Public Company Limited – Thailand : 6.2 percent Conares Metal Supply Limited – UAE : 4.2 percent The agency... Read More
Canada issues final antidumping margins on wire rod imports from three countries
The Canada Border Services Agency (CBSA) has announced the final determination of its antidumping (AD) duty investigation against certain wire rod from China, Egypt and Vietnam. The determined dumping margins are as follows: Jiangsu Shagang (China) : 34.0 percent All other Chinese companies : 46.2 percent Suez Steel (Egypt) : 8.6 percent All other companies in Egypt : 21.3 percent Hoa Phat Dung Quat Steel (Vietnam) : 17.7 percent Hoa Phat Hai Duong... Read More