CTV National News: Impact of reciprocal tariffs against U.S.
Michael Le Couter with a look at how countries are responding to U.S. tariffs and the impact it's having.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
2 hours ago
- CTV News
PM Carney announces pay raises and benefits for all CAF members
Watch Prime Minister Carney announces pay raises retroactive to April 1st and new service benefits with additional supports for all Canadian Armed Forces members.
CTV News
2 hours ago
- CTV News
U.S. hikes Canadian softwood duties, bringing total to more than 35%
Logs are stacked at Gorman Brothers Lumber sawmill in West Kelowna, B.C., on April 4, 2025. (Darryl Dyck / The Canadian Press) The U.S. Department of Commerce says it has made a final decision to more than double countervailing duties on Canadian softwood lumber imports, a move business groups in British Columbia say will harm communities on both sides of the border. A statement from the American department says the duty for most Canadian companies is being increased to 14.63 per cent, up from 6.74 per cent, after it determined softwood lumber from Canada was being unfairly subsidized. The increase is on top of a recent jump in anti-dumping duties to 20.56 per cent, bring the total duty level for Canadian softwood to 35.19 per cent. The department says it will now instruct U.S. Customs and Border Protection to begin collecting the money. Kurt Niquidet, president of the BC Lumber Trade Council, says in a statement that the decision places unnecessary strain on forestry-dependent regions in Canada while driving up construction costs for American builders. The council says both the Canadian and U.S. governments need to make resolving the long-standing softwood lumber dispute a top economic priority. 'In the absence of a negotiated settlement, BCLTC will continue working closely with the Government of Canada and industry partners to defend Canadian interests through all available legal channels, including proceedings under the United States-Mexico-Canada Agreement,' the statement says. The BC Council of Forest Industries says the provincial government needs to take action including streamlining permitting processes, activating provincial timber sales and removing cross-ministry bottlenecks. 'With the right policy tools, B.C. can send a strong message that it is committed to creating a climate where primary and secondary forest manufacturers want to invest, ensuring a steady supply of wood products for B.C., Canada, and beyond,' president Kim Haakstad said in a statement. Prime Minister Mark Carney was in B.C. this week promising $700 million in loan guarantees for the industry and $500 million for long-term supports to help companies diversify export markets and develop their products. Ashley Joannou, The Canadian Press
CTV News
2 hours ago
- CTV News
Alberta Premier to visit Mexico next week on trade mission
Premier Danielle Smith is headed to Mexico City on Sunday to meet with government officials and industry leaders to promote new investment and strengthen trade relations between Alberta and Mexico. According to a government release, Smith will focus on agrifood, forestry, technology, tourism and manufacturing between the province and the country. The province said this is the first official visit to Mexico by an Alberta premier since 2019. Officials say Mexico is the province's fourth-largest bilateral trading partner. Last year, bilateral trade between Alberta and Mexico totalled nearly $2.9 billion, with Alberta exporting $785.8-million worth of goods to Mexico including meat, oil seed, plastics, energy and cereals. Alberta imported about $2.1 billion in goods from Mexico in 2024, including machinery, iron, steel, fruits and nuts. Smith will be in Mexico City from Sunday to Wednesday.
