Trump imposes tariffs on Canadian steel and aluminum imports

U.S. President Donald Trump has made significant changes to tariffs, affecting trade with Canada and Mexico. Tariffs have been imposed, paused, and threatened for future implementation, creating uncertainty in international trade relations. On March 12, Trump imposed a 25% tariff on steel and aluminum imports from Canada and other countries. This applies to raw and finished products. There is no longer an exemption for goods made from U.S. steel and aluminum. The administration claims these tariffs are necessary for national security. Additionally, on March 4, a blanket 25% tariff on imports from Canada and Mexico was introduced. A lower 10% tariff is applied to energy products. However, there is a temporary reprieve for some goods that meet the U.S.-Mexico-Canada Agreement (USMCA) standards. It's uncertain what percentage of Canadian exports qualify for this exemption. Tariffs on Canadian softwood lumber have also increased due to long-standing disputes. The U.S. plans to more than double anti-dumping rates, pushing overall tariffs to around 27%. A separate investigation into the lumber industry might lead to even higher tariffs. Looking ahead, Trump has hinted at additional "reciprocal tariffs" to take effect on April 2. These will match tariffs that other countries place on U.S. goods. Specific calculation methods for these tariffs have yet to be clarified. In response, Canada has implemented its own tariffs on about $60 billion worth of U.S. goods. It is prepared to expand these tariffs significantly if the U.S. does not reverse its recent tariff decisions. The ongoing trade tensions have stirred reactions at various government levels in Canada, including changes to local purchasing policies.