logo
Canadian prime minister says Canada will match US auto tariffs

Canadian prime minister says Canada will match US auto tariffs

Yahoo03-04-2025

TORONTO (AP) — Prime Minister Mark Carney said Thursday that Canada will match U.S. President Donald Trump's 25% auto tariffs with a tariff on vehicles imported from the United States.
Trump's previously announced 25% tariffs on auto imports took effect Thursday. The prime minister said he told Trump last week in a phone call that he would be retaliating for those tariffs.
"We take these measures reluctantly. And we take them in ways that is intended and will cause maximum impact in the United States and minimum impact in Canada,' Carney said.
Carney said Canada won't put tariffs on auto parts as Trump has done, because he said Canadians know the benefits of the integrated auto sector. The parts can go back and forth across the Canada-U.S. border several times before being fully assembled in Ontario or Michigan.
Carney said Canadians are already seeing the impact.
Automaker Stellantis said it shut down its assembly plant in Windsor, Canada, for two weeks from April 7, the local union said late Wednesday. The president of Unifor Local 444, James Stewart, said more scheduling changes were expected in coming weeks.
Carney said that will impact 3,600 auto workers that he met with last week.
Autos are Canada's second-largest export and the sector employs 125,000 Canadians directly and almost another 500,000 in related industries.
Carney announced last week a CA$2 billion ($1.4 billion) 'strategic response fund' that will protect Canadian auto jobs affected by Trump's tariffs.
Trump previously placed 25% tariffs on Canada's steel and aluminum. And Carney said Canada can expects further tariffs on pharmaceuticals, lumber and semi-conductors.
'Given the prospective damage to their own people the American administration should eventually change course,' Carney said. 'Although their policy will hurt American families, until that pain becomes impossible to ignore, I do not believe they will change direction, so the road to that point may indeed be long. And will be hard on Canadians just as it will be on other partners of the United States.'
Carney, a former two-time central banker in Canada and the U.K, said Trump's actions will reverberate in Canada and across the world. 'They are all unjustified and unwarranted and in our judgement misguided,' Carney said.
Canada's initial $30 billion Canadian (US$21 billion) worth of retaliatory tariffs remain in place, having been applied on items like American orange juice, peanut butter, coffee, appliances, footwear, cosmetics, motorcycles and certain pulp and paper products.
Carney suspended his election campaign to return to Ottawa to deal with Trump's tariffs.
Opposition Conservative leader Pierre Poilievre said he would remove the federal tax on Canadian made vehicles.
Ontario Premier Doug Ford, whose province has the bulk of Canada's auto industry, called Canada's latest tariffs a 'measured response.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Activists stopped in Libya and Egypt ahead of planned march on Gaza
Activists stopped in Libya and Egypt ahead of planned march on Gaza

Hamilton Spectator

time20 minutes ago

  • Hamilton Spectator

Activists stopped in Libya and Egypt ahead of planned march on Gaza

RABAT, Morocco (AP) — Egyptian authorities detained additional activists planning to march to Gaza in protest of restrictions on aid reaching the territory while security forces in eastern Libya blocked a convoy of activists en route to meet them. Demonstrators from 80 countries planned to march to Egypt's border with Gaza to spotlight the deepening humanitarian crises facing Palestinians since Israel began blocking aid trucks from entering the coastal enclave in March. It slightly eased restrictions last month, allowing limited aid in, but experts warn the measures fall far short. The Global March on Gaza was slated to be among the largest demonstrations of its kind in recent years, coinciding with other efforts including a boat carrying activists and aid that was intercepted by Israel's military en route to Gaza earlier this week. Activists detained in Egypt Organizers on Friday said authorities confiscated passports of 40 people planning to march at a checkpoint outside Cairo, where they're being held in the heat. Others are being detained at hotels. They urged officials from the activists' home countries to push Egypt to release their citizens. Friday's detentions come after hundreds arriving in Cairo were earlier detained and deported to their home countries in Europe and North Africa. Before authorities confiscated their passports, the activists said they planned to gather at a campsite on the road to the Sinai to prepare for Sunday's march. They said authorities had not yet granted them authorization to travel through the Sinai, which Egypt considers a highly sensitive area. 'We continue to urge the Egyptian government to permit this peaceful march, which aligns with Egypt's own stated commitment to restoring stability at its border and addressing the ongoing humanitarian crisis in Gaza,' the activists said in a statement. Hicham El-Ghaoui, one of the group's spokespeople, said they would refrain from demonstrating until receiving clarity on whether Egypt will authorize their protest. The planned demonstrations cast an uncomfortable spotlight on Egypt, one of the Arab countries that has cracked down on pro-Palestinian activists even as it publicly condemns aid restrictions and calls for an end to the war. The government, a major recipient of U.S. military aid that maintains ties with Israel, has arrested and charged 186 activists with threatening state security since the war began, according to a June tally by the Egyptian Initiative for Personal Rights. Many of them said they were protesting peacefully and collecting donations for Gaza. Still, the severity of the crackdown surprised European activists. Antonietta Chiodo, who traveled to Cairo from Italy, said those awaiting further instruction had been detained, interrogated, treated harshly by Egyptian authorities or deported. Alexis Deswaef, a Belgian human rights lawyer, said he woke up on Friday to dozens of security vehicles packed with uniformed officers surrounding Talat Harb Square, where he and other activists had found hotels. Members of his group snuck out of the lobby as security entered, holding up a guidebook and asking an officer for assistance booking taxis to the Pyramids of Giza, where they've been since. 'I am so surprised to see the Egyptians doing the dirty work of Israel,' he said from the Pyramids. He hoped there would be too many activists at the new meeting point outside Cairo for Egyptian authorities to arrest en masse. In a divided Libya, Egypt-backed authorities stop a convoy Meanwhile, an aid convoy traveling overland from Algeria picked up new participants along the route in Tunisia and Libya yet was stopped in the city of Sirte, about 940 kilometers (585 miles) from the Libya-Egypt border. Organizers of the overland convoy said late Thursday night that they had been stopped by authorities governing eastern Libya, which has for years been divided between dueling factions . The convoy was allowed to cross from Tunisia to Libya but halted near the front line where territory shifts to a rival administration whose backers include Egypt. The Benghazi-based government in a statement urged activists to 'engage in proper coordination with the official Libyan authorities through legal and diplomatic channels to ensure the safety of all participants and uphold the principles of solidarity with the Palestinian people.' It said they should return to their home countries and cited Egypt's public statements that marchers had not been granted authorization. Organizers leading the overland convoy said authorities had allowed them to camp in Sirte and await further approval. Their group, which includes thousands of participants, had already traversed parts of Algeria, Tunisia and the western Libyan cities of Tripoli and Misrata. Jawaher Shana, one of the convoy's Tunisia-based organizers, said the convoy would eventually continue. 'We are peaceful civilians who are known in our countries,' she told a crowd at Sirte Gate. The efforts — the activist flotilla, the overland convoy and the planned march — come as international outcry grows over conditions in Gaza. As part of a campaign to pressure Hamas to disarm and release hostages, Israel has continued to pummel the territory with airstrikes while limiting the flow of trucks carrying food, water and medication that can enter. The U.N. has said the vast majority of the population relies on humanitarian aid to survive and experts have warned the coastal enclave will likely fall into famine if Israel doesn't lift its blockade and stop its military campaign. Over U.N. objections, a U.S.-backed group has taken control of the limited aid entering Gaza. But as desperate Palestinians crowd its distribution sites, chaos has erupted and almost 200 people have been killed near aid sites. Nearly half a million Palestinians are on the brink of possible starvation , and 1 million others can barely get enough food, according to findings by the Integrated Food Security Phase Classification, a leading international authority. Israel has rejected the findings, saying the IPC's previous forecasts had proven unfounded. __ McNeil reported from Barcelona. Associated Press journalist Youssef Murad in Tripoli, Libya, contributed to this report. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .

Doman Building Materials Group Ltd. Announces Quarterly Dividend
Doman Building Materials Group Ltd. Announces Quarterly Dividend

Hamilton Spectator

time21 minutes ago

  • Hamilton Spectator

Doman Building Materials Group Ltd. Announces Quarterly Dividend

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, June 13, 2025 (GLOBE NEWSWIRE) — Doman Building Materials Group Ltd. ('Doman' or 'the Company') (TSX: DBM) is pleased to announce that its board of directors has declared a dividend for the 61st consecutive quarter, which will be paid on July 15, 2025, to shareholders of record on June 30, 2025, of $0.14 per share. About Doman Building Materials Group Ltd. Founded in 1989, Doman is headquartered in Vancouver, British Columbia, and trades on the Toronto Stock Exchange under the symbol DBM. As Canada's only fully integrated national distributor in the building materials and related products sector, Doman operates several distinct divisions with multiple treating plants, planing and specialty facilities and distribution centres coast-to-coast in all major cities across Canada and coast-to-coast across the United States. Strategically located across Canada, Doman Building Materials Canada operates distribution centres coast-to-coast, and Doman Treated Wood Canada operates multiple treating plants near major cities. In the United States: headquartered in Dallas, Texas, Doman Lumber operates 21 treating plants, two specialty planing mills and five specialty sawmills located in nine states, distributing, producing and treating lumber, fencing and building material servicing the central U.S.; Doman Tucker Lumber operates three treating plants, specialty sawmilling operations and a captive trucking fleet serving the U.S. east coast; Doman Building Materials USA and Doman Treated Wood USA serve the U.S. west coast with multiple locations in California and Oregon; and in the state of Hawaii the Honsador Building Products Group services 15 locations across all the islands. The Company's Canadian operations also include ownership and management of private timberlands and forest licenses, and agricultural post-peeling and pressure treating through its Doman Timber operations. For additional information on Doman Building Materials Group Ltd., please refer to the Company's filings on SEDAR+ and the Company's website . For further information regarding Doman please contact: Ali Mahdavi Investor Relations 416-962-3300 Certain statements in this press release may constitute 'forward-looking' statements. When used in this press release, forward-looking statements often but not always, can be identified by the use of forward-looking words such as, including but not limited to, 'may', 'will', 'would', 'should', 'expect', 'believe', 'plan', 'intend', 'anticipate', 'predict', 'remain', 'estimate', 'potential', 'forecast', 'budget', 'schedule', 'continue', 'could', 'might', 'project', 'targeting', 'future' and other similar terminology or the negative or inverse of such words or terminology. Forward-looking information in this news release includes, without limitation, statements with respect to: the ultimate impact (express or implied) of: a) fluctuations in commodity and construction materials pricing; b) the performance of recently acquired businesses; c) the performance of the Canadian and US economies; and d) the impact of COVID-19 on the Company's operational and financial results and on consumer behaviour and economic activity, including but not limited to the first quarter and balance of 2025 results. These forward-looking statements reflect the current expectations of Doman's management regarding future events and operating performance, but involve other known and unknown or unpredictable risks, uncertainties and other factors which may cause the actual results, performance or achievements of Doman, including but not limited, to sales, earnings, cash flow from operations, EBITDA generated, dividends generated or paid by Doman, including whether at the rate as of the date hereof or some other dividend rate in the future which may be lower than either of the preceding rates discussed therein, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements should therefore be construed in the light of such factors. Actual events could differ materially from those projected herein and depend on a number of factors and risks. These factors and risks include but are not limited to those set out in the Company's annual information form dated March 31, 2025, and other public filings on the Canadian Securities Administrator's website at . By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. In addition, a number of material factors or assumptions were utilized or applied in making the forward-looking statements, and may include, but are not limited to, assumptions regarding the performance of the Canadian and U.S. economies, the relative stability of or level of interest rates, exchange rates, volatility of commodity prices, availability or more limited availability of access to equity and debt capital markets to fund, at acceptable costs, Doman's future growth plans, the implementation and success of the integration of Doman's acquisitions and customer and supplier retention, the ability of Doman to refinance its debts as they mature, the Canadian and United States housing and building materials markets; the direct and indirect effect of the U.S. housing market and economy; impacts of changes in international trade policies including tariffs on the Company, its suppliers, customers, cost of goods, sales pricing and the overall economic environment; post-acquisition operation of a business; exchange rate fluctuations between the Canadian and US dollar; retention of key personnel; Doman's ability to sustain its level of sales and earnings margins; Doman's ability to grow its business long term and to manage its growth; Doman's management information systems upon which it is dependent are not impaired or compromised by breaches of Doman's cybersecurity; Doman's insurance is sufficient to cover losses that may occur as a result of its operations; international trade and tariff risks, political risks, the amount of Doman's cash flow from operations; tax laws; and the extent of Doman's future acquisitions and capital spending requirements or planning as well as the general level of economic activity, in Canada and the U.S., and abroad, discretionary spending and unemployment levels; the effect of general economic conditions, including market demand for Doman's products, and prices for such products; the effect of forestry, land use, environmental and other governmental regulations; the risk of losses from fires, floods and other natural disasters and unemployment levels; social and governance risks do not adversely affect the Company's reputation and shareholder, employee, customer, supplier or third party relationships; climate change does not adversely affect the Company's business and/or damage its reputation; and the Company is not adversely impacted by disruptive technologies or competitors deploying same. There is a risk that some or all of these assumptions may prove to be incorrect. These and other factors could cause or contribute to actual results differing materially from those contemplated by forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information. These forward-looking statements speak only as of the date of this press release. We caution that the foregoing factors that may affect future results are not exhaustive. When relying on our forward-looking statements to make decisions with respect to Doman, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Neither Doman nor any of its associates or directors, officers, partners, affiliates, or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in these communications will actually occur. You are cautioned not to place undue reliance on these forward-looking statements. Except as required by applicable securities laws and legal or regulatory obligations, Doman is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store