Canada Moves to Protect Steel and Aluminum Firms, Considers Higher Tariffs
Bloomberg1 day
Canada Threatens Tariff Hike on US Steel if No Deal by July 21
Above: Aerial view of two ships docked at a container terminal in Canada. Image copyright: shaunl/E+/Getty Images
The Spin
Anti-Trump narrative
Trump's tariffs are devastating Canadian steel workers and forcing necessary defensive measures. The 50% duties have effectively shut Canadian producers out of their largest market, causing layoffs and investment declines. Canada must protect its workers from these unjust trade practices while negotiating in good faith. Canada needs to continue taking bold action against these unfair measures.
Pro-Trump narrative
These tariffs protect American workers from unfair global competition and excess capacity that has harmed domestic industries. The measures address legitimate concerns about subsidized foreign steel flooding markets and decimating local production capabilities. Canada also cannot afford to hurt itself in a protracted trade war with its much more powerful neighbor, and must remain cool and collected.