Trump doubles metals tariffs, adding fuel to trade war. Live updates here.

CTV News

3 days ago

U.S. President Donald Trump has increased tariffs on steel and aluminum imports from 25 per cent to 50 per cent.
The presidential proclamation went into force at 12:01 a.m. EDT Wednesday. In that document, Trump said the new rate would better counter 'foreign countries that continue to offload low-priced, excess steel and aluminum,' undercutting the U.S. market.
Ottawa called the additional levies 'unlawful and unjustified.' About a quarter of all steel used in the United States is imported and Canada is its largest supplier.
Follow along for the latest updates:
'Unlawful and unjustified': PMO responds
In a statement to CTV News Tuesday night, the Prime Minister's Office (PMO) called the additional tariffs on steel and aluminum 'unlawful and unjustified.'
'Canada's new government is engaged in intensive and live negotiations to have these and other tariffs removed as part of a new economic and security partnership with the United States,' the statement said.
The PMO added that every dollar collected from Canada's retaliatory tariffs over $90 billion, before remissions, will go to 'supporting Canadian workers and businesses impacted by the harmful U.S. tariffs.'
'We are fighting to get the best deal for Canada, and we will take the time necessary, but no longer,' the PMO said.
Lynn Chaya , CTVNews.ca journalist, and Stephanie Ha , Ottawa News Bureau journalist. Read the full story here .
Mark Carney: Donald Trump trade war
Prime Minister Mark Carney speaks to media following the First Minister's Meeting in Saskatoon, Sask., Monday, June 2, 2025. THE CANADIAN PRESS/Liam Richards
(Liam Richards)
Moving energy from Eastern Canada
A plan to generate and transmit energy from Eastern Canada to other markets has been prioritized as a 'nation-building' project, following a meeting with the premiers and Prime Minister Mark Carney.
The Eastern Energy Partnership would link hydro and wind power from Atlantic Canada and Quebec to destinations in Western Canada and U.S. states in New England.
An initial cost of $8 billion has been tagged for transmission infrastructure.
Nova Scotia Premier Tim Houston said a portion of the plan, dubbed 'Wind West,' would send energy from the province's offshore wind zones via a transmission cable.
'Nova Scotia's Wind West project can produce enough energy that is the equivalent of powering up to 27 per cent of the country's needs,' said Houston in a social media video post Monday evening.
Nick Moore , CTVNewsAtlantic.ca journalist. Read the full story here .
Mark Carney news
Prime Minister Mark Carney, left, speaks to media following the First Minister's Meeting in Saskatoon, Sask., Monday, June 2, 2025. THE CANADIAN PRESS/Liam Richards
(Liam Richards/The Canadian Press)
Carney: Chinese tariffs a 'top priority'
The federal government plans to work urgently to remove Chinese tariffs on Canadian agriculture and seafood products, Carney said Monday.
'The Canadian government is engaging with its Chinese counterparts at the ministerial level, and we'll continue those discussions,' Carney told reporters after meeting with premiers in Saskatoon.
'They're a top priority for us.'
The commitment, which came in a statement after the meeting, says premiers want Canada's trading relationship with China to improve.
The Canadian Press. Read the full story here .
Canada seafood
Canadian flags on fishing boats on Grand Manan island New Brunswick on Thursday, May 8, 2025. THE CANADIAN PRESS/Graham Hughes
U.S. and Europe discuss tariffs in Paris
Europe and the United States are meeting in Paris to negotiate a settlement of a tense tariff spat with global economic ramifications between two global economic powerhouses.
The European Union's top trade negotiator, Maroš Šefčovič, met Wednesday with his American counterpart, U.S. Trade Representative Jamieson Greer, on the sidelines of a meeting of the Organization for Economic Cooperation and Development.
'We're advancing in the right direction at pace — and staying in close contact to maintain the momentum,' Šefčovič posted on social media platform X alongside a photo of him shaking hands with Greer.
Brussels and Washington are unlikely to reach a substantive trade agreement in Paris. The issues dividing them are too difficult to resolve quickly.
The Associated Press. Read the full story here .
Belgium EU U.S. Trade
European Commissioner for Trade and Economic Security Maros Sefcovic arrives for a meeting of EU trade ministers at the European Council building in Brussels, Thursday, May 15, 2025. (AP Photo/Omar Havana)
(Omar Havana/AP)
OECD: Trade war takes toll on U.S. economy
Global economic growth is slowing more than expected from only a few months ago as the fallout from the Trump administration's trade war takes a bigger toll on the U.S. economy, the OECD said on Tuesday, revising down its outlook.
The global economy is on course to slow from 3.3 per cent last year to 2.9 per cent in 2025 and 2026, the Organization for Economic Cooperation and Development said, trimming its estimates from March for growth of 3.1 per cent this year and three per cent next year.
But the growth outlook would likely be even weaker if protectionism increases, further fuelling inflation, disrupting supply chains and rattling financial markets, the Paris-based organization said in its latest economic outlook.
'Additional increases in trade barriers or prolonged policy uncertainty would further lower growth prospects and likely push inflation higher in countries imposing tariffs,' OECD Secretary General Mathias Cormann said as he presented the report.