Useful information
Prime News delivers timely, accurate news and insights on global events, politics, business, and technology
Useful information
Prime News delivers timely, accurate news and insights on global events, politics, business, and technology
The nations attacked by the tariffs of President Trump about steel and aluminum denounced the measures as unfair on Tuesday and threatened to retaliate in a growing commercial dispute that threatens to increase economic markets and tighten the relations of the United States with the main Allies
Prime Minister Justin Trudeau in Canada, the largest metal supplier in the United States, described Trump 25 percent tariffs on all imports of steel and aluminum as “unacceptified” and “unacceptable”.
Mr. Trudeau said he hoped to avoid the imposition of tariffs, who will not enter into force until March 12, highlighting his “negative impacts on Americans and Canadians.”
He added that Canada “would also be working with our international partners and friends” to press the Trump administration. When asked if he was ready to respond with the encrares, Mr. Trudeau said that Canada “will remain strong and firm if necessary.”
European countries also warned of reprisals in response to Trump’s rates. Ursula von der Leyen, president of the European Commission, described the “unjustified” taxes.
The leaders in Mexico said the rates were “unjustifiable” and risked to undermine the economic integration of the North American market that was forged in the last two generations.
By pointing out that the United States has a commercial surplus with Mexico in steel and aluminum, Marcelo Ebrard, secretary of the country’s economy, said he planned to appeal to the common sense of Mr. Trump to try to defend himself against tariffs.
“We take his word for it, common sense, not shooting at the foot, without destroying what we have built in 40 years,” Ebrard told journalists.
The announcement of Mr. Trump of the rates on Monday led leaders in Canada and Mexico, the largest commercial partners in the United States, especially by surprise. Last month, the president threatened with 25 percent tariffs on all imports of both nations, which led them to warn about reprisals.
But a commercial war was avoided in the last minute when Trump and the leaders of both countries reached separate agreements that produced a 30 -day postponement of the rates last week. Both agreements involve strengthening the security at the borders that the United States shares with Mexico and Canada.
The sudden imposition of tariffs on steel and aluminum in Canada weeks before the end of the postponement left political and business leaders in the country feeling lumine. Canada’s economy is much smaller than that of the United States and would significantly suffer rates. Now he faces a repetition of cable negotiations that have dominated news coverage in recent weeks.
It is likely that tariffs deepen the distrust of Canada of the Trump administration, increase the feelings of betrayal among Canadians and further drive discussions about the need to strengthen ties with different countries in the United States.
Trump revealed that he was prepared to impose 25 percent tariffs on all imports of steel and aluminum to the United States on Sunday while talking to journalists aboard Air Force One en route to the Super Bowl.
Canada was the largest steel supplier to the United States last year, followed by Brazil and Mexico. It is also an important aluminum supplier to the United States.
The Canada’s steel industry, which uses 23,000 peopleIt exports almost all its products to the United States. There is little demand for Canadian steel in other markets, which are increasingly dominated by China.
The aluminum sector, which uses 9,000 people In Canada, it is more competitive worldwide, although the United States is its main buyer.
During his first term, Trump raised tariffs on steel and aluminum imports around the world, angry Canada, Mexico and other allies. Finally, he exempts the main steel producing countries such as Brazil, South Korea and Australia in exchange for quotas to limit their exports to the United States. He eliminated steel and aluminum barriers to Canada and Mexico with the signing of a commercial agreement reviewed between the three countries.
This time, Trump has tied the tariff threats against Canada with the conversation of annexing the country and turning it into state 51. While the government of Prime Minister Trudeau initially ruled out Mr. Trump’s comment as a joke, he told business leaders on Friday that considered the threat as real.
Trump, in an interview with Fox News on Sunday, said the annexation of Canada was taken seriously.
On Tuesday, Trudeau withdrew against Mr. Trump.
“This is a moment of pride,” Trudeau said, speaking in Paris, where he attended an artificial intelligence conference. “This is a time to unite. This is a time for Canada to be solid in our identity. “
Mexico was the third largest steel supplier to the United States in 2024, according to the American Iron and Steel Institute.
A spokesman for the Mexican Steel Trade Association, Canacero, said he would expect to evaluate the impact on the industry, which is concentrated in northern Mexico and supplies steel for everything, from cars to washing machines and construction materials.
When Trump imposed tariffs in his first mandate: 25 percent in steel and 10 percent in aluminum, Mexico retaliates with the countertops in key American products, including pork, apples, cheese, blueberries, bourbon whiskey and Harley Davidson motorcycles , according to Valeria Moy Moy Moy, general director of the Mexican Institute of Competitiveness.
The tariffs rose about a year later with the signing of the free trade agreement reviewed between the United States, Canada and Mexico.
While short -term tariffs on steel and aluminum did not lead to significant profits for US manufacturers, Moy said it was not surprising that Trump was considering returning to them.
“It represents a victory that is easy to communicate for Trump,” Moy said. “It benefits, in the short term, an industry that has become emblematic in the United States.”
Brazil exported steel worth $ 4.5 billion to the United States last year. The United States was, with much, the largest international market for Brazilian steel, but that represented only about 11 percent of Brazil’s steel sales, most of which are national.
The last time Trump implemented tariffs against steel imports, greatly exempted Brazil. Experts believed at that time that, because the United States had a commercial surplus with Brazil, Trump did not see necessary a university. In Brazil.
Tariffs on Brazilian steel could be counterproductive in the United States, said Beni. Brazil imports more than $ 1 billion a year in coal from the United States, largely to make steel, so damaging the Brazilian steel industry could affect the US coal industry, he said.
“This could be very interesting for Brazil at the negotiating table,” he said. “Because if I produce less steel, I will need less coal.”