Ottawa plans to modify tariffs on steel and aluminum imports, reflecting advancements in trade relations with Trump.
Hear Ya, bud! Let's cut to the chase.
From the PM himself: Mark Carney, our Canadian Prime Minister, declared that he'll be revising tariffs on steel and aluminum from the good ol' USA based on the progress of his chats with Donald Trump about that trade deal. The big question hangs in the air – will we slap some new tariffs on those Yank steel and aluminum products, or keep 'em on hold, while we smooch and sigh over a deal?
Carney spilled the brew at a presser in Ottawa last week, and the gist is this – come July 21, we'll reevaluate tariffs. Sounds like a big decision, huh? Well, it's all part of the 30-day negotiation dance agreed with Donald during that G7 shindig in Kananaskis.
He's also warned the House of Commons, "Time's a-wastin'!" and confessed to having regular chats with the Donald.
At the beginning of June, the Donald half-pumped the tariffs on imported steel and aluminum to the US. Our industries whined, and the Canadian government happened to hear their cries. Canadian tariffs, initially at 25%, might just have to amp up if that deal ain't sourced out soon.
Fun facts:
- Keep your eyes peeled for that Ottawa-Washington trade deal within 30 days!
- Minister Melanie Joly says her top priority is Canada's steel and aluminum industries.
Switching gears:
Carney announced the introduction of "tariff quotas," a fancy term for limits on the amount of steel Canada will allow from third countries. These quotas aim to stabilize the domestic market by targeting countries without a free trade agreement with Canada. The quotas are in effect as of yesterday and will be evaluated in the next 30 days.
It's not a laugh-riot that the quotas came from the Donald, though. Says Carney, "American tariffs on steel and aluminum are a global force. They don't specifically aim for Canada, but if we don't play our cards right, steel from other countries flows into Canada."
Carney added that the level of tariff quotas hinges on the progress in the talks with the US. If there's an agreement in the next 30 days, the quotas might just reduce, but it's also dependent on the US actions towards other nations, you dig?
Get your act together, fast!
Last Thursday, the Canadian Steel Producers Association and the United Steelworkers planned to demand concrete action from the government. They were all set for an Ottawa presser – just two hours before the big event – but guess what? It led to a no-show.
Our Federal Industry Minister, Melanie Joly, acknowledged that it's essential to "tackle this situation head-on" in regards to the steel and aluminum industries. She had a word with that when she marched into the cabinet meeting Thursday morning.
Carney also unveiled new procurement policies to pave the way for Canadian suppliers in federal public markets, beginning June 30.
So here's the skinny: the government is ready to lay down more regulations, even though the Americans are still calling the shots in the shadows. But remember folks, we're waiting for them to make the first move!
Carney will sit down with his provincial and territorial counterparts on Friday to deliberate on these new tariff measures and figure out a long-term game plan. Keep your fingers crossed, eh!
Lastly, it seems the way they calculate the Administrative Housing Tribunal isn't sitting well with tenants, and the CORPIQ shouts, "Help us out, government!" But that's a story for another time, huh?
And while we're here, how come we removed that beautiful 3-year-old girl's photo and name from all our texts? Yeah, that's a tale for another day too. So, you'll just have to quiz us on that one, bud!
In light of the upcoming Ottawa-Washington trade deal discussions within 30 days, the focus of policy-and-legislation is shifting towards housing and general-news topics such as the administrative housing tribunal, as Prime Minister Mark Carney prepares to meet with his provincial and territorial counterparts to deliberate new tariff measures and form a long-term game plan. The Canadian government is also introducing new policies, like tariff quotas and procurement policies, to support domestic industries, particularly steel and aluminum. Meanwhile, the Canadian Steel Producers Association and the United Steelworkers are demanding concrete action from the government to help these industries. However, there's a growing concern among tenants regarding the calculation methods used in the Administrative Housing Tribunal, and the CORPIQ is appealing for government intervention.
