Trump doubles down on steel, aluminum tariffs
On Tuesday, U.S. President Donald Trump signed a new executive order that raised tariffs on steel and aluminum from 25 per cent to 50 per cent. One Canadian steel producer said this means that their American business is now 'unviable'.
Jason Kirby is a staff reporter for The Globe's Report on Business section. He explains why these higher steel and aluminum tariffs could mean higher prices on nearly everything, and what may have contributed to Trump's escalation.
Questions? Comments? Ideas? Email us at thedecibel@globeandmail.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
34 minutes ago
- CBC
Man mistakenly deported to El Salvador back in U.S. to face criminal charges
Kilmar Abrego Garcia, whose mistaken deportation to El Salvador became a political flashpoint in the Trump administration's stepped-up immigration enforcement, is being returned to the United States to face criminal charges related to what the U.S. says was a massive human smuggling operation that brought immigrants into the country illegally. Photo credit: Abrego Garcia Family
CBC
40 minutes ago
- CBC
Company that worked on ArriveCan app barred from government contracts for 7 years
Ottawa says it has banned the largest contractor that worked on the ArriveCan app from entering into contracts or real property agreements with the government for seven years. Public Services and Procurement Canada has announced that GC Strategies Inc. has been deemed "ineligible" after an assessment of the supplier's conduct. Last year, the department suspended the security status of GC Strategies, which the auditor general says was awarded more than $19 million for the project. That move followed an earlier decision to suspend the company from procurement processes within the department. The government also barred two other companies that contributed to the ArriveCan project, Dalian Enterprises and Coradix Technology Consulting, from participating in procurement opportunities. The federal government launched the app in April 2020 as a way to track health and contact information for people entering Canada during the COVID-19 pandemic, as well as to digitize customs and immigration declarations. A report by Canada's Auditor General Karen Hogan found the government's record-keeping was poor and its reliance on outside contractors allowed the cost of the project to balloon to $60 million. The first ArriveCan contract was initially valued at just $2.35 million. On Tuesday, Hogan is set to deliver an audit focusing on whether the contracts awarded and the payments made to GC Strategies and other incorporated companies were "in accordance with applicable policy instruments" and were good value for money. Public Services and Procurement Canada says the government continues to take action to "strengthen the integrity of the procurement process." The Canadian Press has reached out to GC Strategies and to Public Services and Procurement Canada for comment. GC Strategies partner Kristian Firth was ordered to appear before the bar of the House of Commons last year after refusing to answer questions at a committee hearing. Firth was grilled by MPs for two hours, though Liberals opted out of questioning after a doctor's note provided to the clerk of the House recommended that he not appear because of mental-health issues. GC Strategies did not develop or manage the ArriveCan app, but it was tasked by the federal government to assemble a team to complete some parts of the project.
CBC
an hour ago
- CBC
Developer wants City of Whitehorse to allow a drive-thru in Whistle Bend
Social Sharing A Whitehorse developer says it is "vital" that the city approve a zoning amendment that would allow for a new drive-thru restaurant in the Whistle Bend neighbourhood. Northern Vision Development's request is now before city council. It's for a 2.3-hectare parcel of land that fronts Whistle Bend Way, one of the main entrances to the neighbourhood. The vacant property is currently zoned for commercial use, which would allow restaurants, grocery stores or convenience stores, but not a drive-thru. The company's CEO Michael Hale says a drive-thru is "needed" because it would help ensure that the larger development of the property is economically viable. "[Fast food chains] are the kinds of businesses that can sign long-term leases, because they're confident that the community is going to continue to come to them," said Hale. He says he's heard from residents that what they want in the neighbourhood is a grocery store. He says the company is planning to include one on the property, but that those businesses tend to produce less revenue per square foot than drive-thrus. "[Grocery stores] take up a lot of economically, it's much more important to have these small, high-volume businesses — because those are in a position to pay lease rates that justify the development," said Hale. He said Northern Vision Development will spend somewhere in the ballpark of $50 to $70 million developing the property. "So you need at least 20 to 25 years of predictable revenue, even just to service the debt," said Hale. At a committee meeting this week, city councillors asked whether the company already had a drive-thru business interested in setting up shop there. Hale said there are several that are potentially interested. Potential traffic, environment impacts There are currently no food and beverage retailers in the Whistle Bend subdivision which is home to more than 4,000 residents. It's the newest and fastest-growing neighbourhood in Whitehorse and it's projected to grow to as many as 10,000 people by 2030. It's already home to more people than Dawson City and Watson Lake combined. Erin Suggitt has been living in Whistle Bend for five years. She says having walkable food and beverage options is long overdue. "It feels forgotten, to be honest. When we moved in we were told other things were coming really quickly, then they kept getting re-zoned to residential instead of commercial," said Suggitt. She says she has no problem with a drive-thru in the residential neighbourhood. "I have kids, and drive-thrus are convenient," she said. She just hopes the zoning will consider rush hour. "Traffic here gets a little crazy so I hope they're making sure it doesn't hold up anything else," she said. As part of its application, Northern Vision Development undertook a traffic impact assessment. According to the developer and the City of Whitehorse staff who reviewed the application, it shows a drive-thru "would not adversely affect the safe functioning of adjacent roadways." City staff also considered the potential environmental impacts of a drive-thru, in light of the city's Climate Action Plan which aims to reduce green house gas emissions. Darcy McCord, the city's acting manager of planning and sustainability services, said drive-thrus "encourage idling," but said the difference in greenhouse gas emissions between a drive-thru and sit-down restaurant are overall "anticipated to be negligible." Hale also suggested that customers who go to a drive-thru in Whistle Bend would likely be seeking out a fast food dinner either way. "It's just, are they doing it in their own community, or are they going to line up downtown?" Hale said. City councillors are expected to discuss the zoning application in the coming weeks. A public hearing will also have to take place as part of the process, though a date for that has not yet been set.
