Latest news with #AluminiumAssociationofCanada
Yahoo
6 days ago
- Business
- Yahoo
US tariffs on steel and aluminium may lead to job losses in Canada
The Canadian metals industry faces significant challenges as higher US tariffs on steel and aluminium, now at 50%, threaten to result in job losses and lost sales, according to a Reuters report. Canada is the largest seller of steel and aluminum to the US. Unifor, Canada's private sector union, and the Aluminium Association of Canada have expressed serious concerns over the immediate impact of the tariffs. Unifor president Lana Payne was quoted by the news agency as saying: 'So this is going to have a very quick impact, I will say to you, on steel industry.' According to the report, members of the Aluminium Association of Canada, including Rio Tinto, are reportedly considering diversifying to Europe in response to the 50% tariffs. Nova Scotia-based Marid Industries CEO Tim Houtsma highlighted the impossibility of selling to the US market under these conditions, indicating a need for cost-watching and market exclusion fears. Prime Minister Mark Carney has announced that Canada is ready to retaliate if negotiations with the US fail. 'We are in intensive negotiations with the Americans, and, in parallel, preparing reprisals if those negotiations do not succeed,' he declared to the House of Commons. Unifor has urged immediate retaliation and suggested halting exports of critical minerals to the US. The union also warned of potential layoffs in the auto and aerospace industries. Canada imposed 25% tariffs on $21.79bn (C$29.78bn) worth of US imports in March. Meanwhile, the Mining Association of British Columbia's 2025 economic impact study highlights 27 advanced-stage mining projects in British Columbia that could inject more than $90bn into the economy, potentially creating thousands of jobs and generating significant tax revenues. Navigate the shifting tariff landscape with real-time data and market-leading analysis. Request a free demo for GlobalData's Strategic Intelligence . "US tariffs on steel and aluminium may lead to job losses in Canada" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
6 days ago
- Business
- Yahoo
Canadian metals industry warns of layoffs, lost sales due to new US tariffs
(Corrects name of Marid industries in paragraph 6) By Divya Rajagopal TORONTO (Reuters) -Canadian companies and a major union said on Wednesday higher U.S. tariffs on steel and aluminum could result in more job losses and lost sales, as Prime Minister Mark Carney said Canada is preparing reprisals. The U.S. tariff hike on the two metals to 50% from the 25% rate introduced in March took effect at 12:01 a.m. (0401 GMT) on Wednesday. Canada is the largest seller of the metals to the U.S., exporting to its southern neighbor roughly twice as much aluminum as the rest of the top 10 exporters' volumes combined. "So this is going to have a very quick impact, I will say to you, on steel industry," said Lana Payne, president of Unifor, which is Canada's private sector union. The Aluminium Association of Canada, which counts Rio Tinto among its members, said 50% tariffs could result in its members diversifying to Europe. Tim Houtsma, CEO of Nova Scotia-based Marid Industries, a medium-scale steel fabricator, told Reuters that the tariffs make it impossible to sell to the United States. "We are going to tighten our belt and we are going to need to watch our cost because we are going to be shut out of the U.S. market for some period of time," Houtsma said. Canada is prepared to strike back against the United States if talks with Washington to remove tariffs do not succeed, Prime Minister Mark Carney said on Wednesday. "We are in intensive negotiations with the Americans, and, in parallel, preparing reprisals if those negotiations do not succeed," he told the House of Commons. Unifor called on Carney to retaliate immediately and urged Canada to pause exports of critical minerals to the United States. Hundreds of Canadian steel workers have lost their jobs since initial tariffs took effect. Unifor warned layoffs in the auto and aerospace industries could also occur. In March, Canada imposed 25% tariffs on C$29.8 billion ($21.79 billion) worth of imports from the U.S. Carney has said previously there is a limit to how far Canada can go in imposing tit-for-tat tariffs. Jeremy Flack, CEO of Flack Global Metals, a U.S.-based steel trader and manufacturer, said the tariffs have led to a pause of orders and reduced demand for steel. "We are not getting any orders. Volumes starting from February have begun to decline," Flack said. ($1 = 1.3674 Canadian dollars) (Additional reporting by David Ljunggren in Ottawa; Editing by Caroline Stauffer; Richard Chang, Andrea Ricci and Sandra Maler) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
US tariffs on Canadian aluminium: the North American supply chain security is at risk
MONTREAL, June 3, 2025 /CNW/ - The Aluminium Association of Canada strongly opposes the United States' announcement of a 50% tariff on Canadian aluminium, calling it a misguided measure that threatens the security of North America's integrated supply chain. "A 50% tariff on Canadian aluminium will suppress demand across the continent — whether the metal is produced in Canada or the U.S.," said Jean Simard, president and CEO of the Aluminium Association of Canada. "It will impact workers on both sides of the border and disrupt key sectors including defense, construction and automotive. At a rate of $1,349.50 per metric ton, the tariff effectively makes Canadian exports to the U.S. economically unviable. While Canada remains committed to serving its U.S. customers, the industry may be forced to diversify trade toward the European Union. "This measure risks increasing U.S. reliance on aluminium from distant sources — including China, Russia, India and the Middle East — for a material critical to national security," Simard added. "It jeopardizes 125 years of cross-border industrial cooperation and will trigger a fundamental shift in global trade flows." The Canadian industry supports the U.S. goal of increasing domestic aluminium production capacity from 50% to 80%. However, punitive tariffs do not create the certainty needed for long-term, capital-intensive investments. Even with higher domestic output, the U.S. will continue to rely on substantial aluminium imports. Canada's 9,500 aluminium workers produce metal that is transformed by more than 700,000 American manufacturing workers into essential products. This binational value chain contributes over $228 billion annually to the U.S. economy. A Strategic Energy Advantage to the U.S. Aluminium production is highly energy-intensive, with energy comprising about 40% of production costs. Canada exports 2.7 million metric tons of aluminium to the U.S. each year — the energy equivalent of 40 million megawatt hours, 4 Hoover dams, or enough to power the state of Nevada or 460 data centers. Thanks to its access to hydropower, Canada produces low-carbon, secure and competitively priced aluminium — a vital advantage in today's energy-constrained landscape. This clean energy base reinforces Canada's role as the most reliable source of aluminium from a stable democracy. Protecting a Shared Industrial Base Canada and the U.S. have worked together for more than a century to build a resilient, integrated aluminium industry. That cooperation remains essential to supporting jobs, national defense and economic security. The industry will continue working with American stakeholders — manufacturers, workers, business owners and policymakers — whose livelihoods depend on affordable, responsibly sourced aluminium. Focusing on Real Trade Challenges The priority for both countries should be addressing unfair trade practices by China, whose state-subsidized overcapacity has distorted global markets, forced smelters to shut down and undermined producers in North America. Canada has taken strong, coordinated action to defend the North American market: In 2024, the Canadian government committed $10.5 million over three years to the Canada Border Services Agency to create a Market Watch Unit. New rules target circumvention and allow higher anti-dumping duties in distorted markets. A digital aluminium imports monitoring system was implemented in 2019. Canada leads the world with a real-time aluminium traceability system, tracking every shipment from its source. Canadian aluminium is not — and will not be — a backdoor for unfair trade. Its continued exemption from U.S. tariffs is essential to safeguarding the shared North American aluminium value chain. While the U.S. produces roughly 1 million metric tons of primary aluminium annually, it consumes five times that amount. Tariffs will only raise costs for U.S. manufacturers and consumers at a time of ongoing inflation concerns. About the Aluminium Association of Canada Founded in 1990, the Aluminium Association of Canada (AAC) represents the three Canadian world-class aluminium producers: Alcoa, Alouette, and Rio Tinto. Operating nine smelters in Canada, eight of which in Quebec, employing over 9,500 workers. The AAC and its members are active in the development of best practices in health and safety and responsible low CO2 production. For more information, visit or X @AAC_aluminium. View original content to download multimedia: SOURCE Aluminum Association of Canada View original content to download multimedia: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Cision Canada
04-06-2025
- Business
- Cision Canada
US tariffs on Canadian aluminium: the North American supply chain security is at risk Français
, June 3, 2025 /CNW/ - The Aluminium Association of Canada strongly opposes the United States' announcement of a 50% tariff on Canadian aluminium, calling it a misguided measure that threatens the security of North America's integrated supply chain. "A 50% tariff on Canadian aluminium will suppress demand across the continent — whether the metal is produced in Canada or the U.S.," said Jean Simard, president and CEO of the Aluminium Association of Canada. "It will impact workers on both sides of the border and disrupt key sectors including defense, construction and automotive. At a rate of $1,349.50 per metric ton, the tariff effectively makes Canadian exports to the U.S. economically unviable. While Canada remains committed to serving its U.S. customers, the industry may be forced to diversify trade toward the European Union. "This measure risks increasing U.S. reliance on aluminium from distant sources — including China, Russia, India and the Middle East — for a material critical to national security," Simard added. "It jeopardizes 125 years of cross-border industrial cooperation and will trigger a fundamental shift in global trade flows." The Canadian industry supports the U.S. goal of increasing domestic aluminium production capacity from 50% to 80%. However, punitive tariffs do not create the certainty needed for long-term, capital-intensive investments. Even with higher domestic output, the U.S. will continue to rely on substantial aluminium imports. Canada's 9,500 aluminium workers produce metal that is transformed by more than 700,000 American manufacturing workers into essential products. This binational value chain contributes over $228 billion annually to the U.S. economy. A Strategic Energy Advantage to the U.S. Aluminium production is highly energy-intensive, with energy comprising about 40% of production costs. Canada exports 2.7 million metric tons of aluminium to the U.S. each year — the energy equivalent of 40 million megawatt hours, 4 Hoover dams, or enough to power the state of Nevada or 460 data centers. Thanks to its access to hydropower, Canada produces low-carbon, secure and competitively priced aluminium — a vital advantage in today's energy-constrained landscape. This clean energy base reinforces Canada's role as the most reliable source of aluminium from a stable democracy. Protecting a Shared Industrial Base Canada and the U.S. have worked together for more than a century to build a resilient, integrated aluminium industry. That cooperation remains essential to supporting jobs, national defense and economic security. The industry will continue working with American stakeholders — manufacturers, workers, business owners and policymakers — whose livelihoods depend on affordable, responsibly sourced aluminium. Focusing on Real Trade Challenges The priority for both countries should be addressing unfair trade practices by China, whose state-subsidized overcapacity has distorted global markets, forced smelters to shut down and undermined producers in North America. Canada has taken strong, coordinated action to defend the North American market: In 2024, the Canadian government committed $10.5 million over three years to the Canada Border Services Agency to create a Market Watch Unit. New rules target circumvention and allow higher anti-dumping duties in distorted markets. A digital aluminium imports monitoring system was implemented in 2019. Canada leads the world with a real-time aluminium traceability system, tracking every shipment from its source. Canadian aluminium is not — and will not be — a backdoor for unfair trade. Its continued exemption from U.S. tariffs is essential to safeguarding the shared North American aluminium value chain. While the U.S. produces roughly 1 million metric tons of primary aluminium annually, it consumes five times that amount. Tariffs will only raise costs for U.S. manufacturers and consumers at a time of ongoing inflation concerns. About the Aluminium Association of Canada Founded in 1990, the Aluminium Association of Canada (AAC) represents the three Canadian world-class aluminium producers: Alcoa, Alouette, and Rio Tinto. Operating nine smelters in Canada, eight of which in Quebec, employing over 9,500 workers. The AAC and its members are active in the development of best practices in health and safety and responsible low CO 2 production. For more information, visit or X @AAC_aluminium.
Yahoo
04-06-2025
- Business
- Yahoo
US tariffs on Canadian aluminium: the North American supply chain security is at risk
MONTREAL, June 3, 2025 /CNW/ - The Aluminium Association of Canada strongly opposes the United States' announcement of a 50% tariff on Canadian aluminium, calling it a misguided measure that threatens the security of North America's integrated supply chain. "A 50% tariff on Canadian aluminium will suppress demand across the continent — whether the metal is produced in Canada or the U.S.," said Jean Simard, president and CEO of the Aluminium Association of Canada. "It will impact workers on both sides of the border and disrupt key sectors including defense, construction and automotive. At a rate of $1,349.50 per metric ton, the tariff effectively makes Canadian exports to the U.S. economically unviable. While Canada remains committed to serving its U.S. customers, the industry may be forced to diversify trade toward the European Union. "This measure risks increasing U.S. reliance on aluminium from distant sources — including China, Russia, India and the Middle East — for a material critical to national security," Simard added. "It jeopardizes 125 years of cross-border industrial cooperation and will trigger a fundamental shift in global trade flows." The Canadian industry supports the U.S. goal of increasing domestic aluminium production capacity from 50% to 80%. However, punitive tariffs do not create the certainty needed for long-term, capital-intensive investments. Even with higher domestic output, the U.S. will continue to rely on substantial aluminium imports. Canada's 9,500 aluminium workers produce metal that is transformed by more than 700,000 American manufacturing workers into essential products. This binational value chain contributes over $228 billion annually to the U.S. economy. A Strategic Energy Advantage to the U.S. Aluminium production is highly energy-intensive, with energy comprising about 40% of production costs. Canada exports 2.7 million metric tons of aluminium to the U.S. each year — the energy equivalent of 40 million megawatt hours, 4 Hoover dams, or enough to power the state of Nevada or 460 data centers. Thanks to its access to hydropower, Canada produces low-carbon, secure and competitively priced aluminium — a vital advantage in today's energy-constrained landscape. This clean energy base reinforces Canada's role as the most reliable source of aluminium from a stable democracy. Protecting a Shared Industrial Base Canada and the U.S. have worked together for more than a century to build a resilient, integrated aluminium industry. That cooperation remains essential to supporting jobs, national defense and economic security. The industry will continue working with American stakeholders — manufacturers, workers, business owners and policymakers — whose livelihoods depend on affordable, responsibly sourced aluminium. Focusing on Real Trade Challenges The priority for both countries should be addressing unfair trade practices by China, whose state-subsidized overcapacity has distorted global markets, forced smelters to shut down and undermined producers in North America. Canada has taken strong, coordinated action to defend the North American market: In 2024, the Canadian government committed $10.5 million over three years to the Canada Border Services Agency to create a Market Watch Unit. New rules target circumvention and allow higher anti-dumping duties in distorted markets. A digital aluminium imports monitoring system was implemented in 2019. Canada leads the world with a real-time aluminium traceability system, tracking every shipment from its source. Canadian aluminium is not — and will not be — a backdoor for unfair trade. Its continued exemption from U.S. tariffs is essential to safeguarding the shared North American aluminium value chain. While the U.S. produces roughly 1 million metric tons of primary aluminium annually, it consumes five times that amount. Tariffs will only raise costs for U.S. manufacturers and consumers at a time of ongoing inflation concerns. About the Aluminium Association of Canada Founded in 1990, the Aluminium Association of Canada (AAC) represents the three Canadian world-class aluminium producers: Alcoa, Alouette, and Rio Tinto. Operating nine smelters in Canada, eight of which in Quebec, employing over 9,500 workers. The AAC and its members are active in the development of best practices in health and safety and responsible low CO2 production. For more information, visit or X @AAC_aluminium. View original content to download multimedia: SOURCE Aluminum Association of Canada View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
