Latest news with #steel
Bloomberg
12 minutes ago
- Business
- Bloomberg
Canada to Curb Steel Imports to Soften Blow From Trump's Tariffs
Canada will reduce the amount of foreign steel that importers can bring in tariff-free, a move to help domestic producers suffering from US President Donald Trump's levies on the sector. The government will tighten the so-called 'tariff rate quota' levels for steel products from countries without a free-trade agreement to 50% of last year's volumes, Prime Minister Mark Carney said Wednesday. For any shipments above that level, a 50% tariff will be imposed.
Yahoo
39 minutes ago
- Business
- Yahoo
Canada announces new tariff measures on imported steel to protect domestic industry
By Divya Rajagopal TORONTO (Reuters) -Canadian Prime Minister Mark Carney on Wednesday said that Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry. Canada will also implement additional tariffs of 25% on steel imports from all non-U.S. countries containing steel melted and poured in China before the end of July. Carney is responding to complaints from the domestic industry, which has complained of dumping as Canada deals with the impact of U.S. tariffs. (Divya Rajagopal in Toronto)
CTV News
4 hours ago
- Business
- CTV News
PM Carney to make steel industry announcement in Hamilton
Prime Minister Mark Carney will make an announcement on the steel industry during a visit to Hamilton.
CTV News
7 hours ago
- Business
- CTV News
Carney heads to Hamilton to meet steelworkers as U.S. trade talks continue
Prime Minister Mark Carney takes part in a meeting on the sidelines of the NATO Summit in The Hague, Netherlands on Tuesday, June 24, 2025. THE CANADIAN PRESS/Sean Kilpatrick OTTAWA — Prime Minister Mark Carney is scheduled to be in Hamilton today to make an announcement related to the steel industry. It has been more than a month since U.S. President Donald Trump doubled tariffs on steel and aluminum from 25 to 50 per cent, adding further economic insult to the two industries in Canada. Carney met with his cabinet virtually on Tuesday and told reporters before that meeting he doesn't think Trump will agree to any trade deals without including some tariffs. Carney will tour a steel company in the city and meet with workers during his visit to Hamilton. Carney and Trump have been negotiating a new economic and security pact since early May and last week Trump unilaterally pushed the deadline for reaching that from July 21 to Aug. 1. He told Carney in a letter on July 10 Canada will be hit with 35 per cent tariffs that day, with the White House saying the current plan is for that to apply only to those Canadian imports not covered under the existing Canada-U.S.-Mexico Agreement. Carney says negotiations with the U.S. are likely to intensify as that Aug. 1 deadline approaches. This report by The Canadian Press was first published July 16, 2025. David Baxter, The Canadian Press
Zawya
7 hours ago
- Business
- Zawya
Al Yamamah Steel awards steel wind towers supply contract to Chinese company
Al Yamamah Steel Industries Co. has signed two contracts with China's SEPCOIII Electric Power Construction Co. for supplying steel wind towers for two projects. The combined value of the contracts is 68.66 million Saudi riyals ($18.31 million), the company said in two separate statements to the Saudi stock exchange. The first contract includes supplying steel wind towers to Al Ghat Wind Farm valued at SAR 35.70, while the second contract is for providing steel wind towers to Waad Al Shamal Farm for SAR 32.96 million. Both contracts have a six-month duration, starting in August. The financial impact is expected to be reflected in the company's financial statements in third quarter of 2025, the statement said. (Editing by Anoop Menon) (
