Canada will adjust its steel retaliatory tariffs based on “consistent” progress made on trade negotiations with the United States on July 21, Canadian Prime Minister Mark Carney said Thursday.
Carney did not specify what the additional retaliatory tariffs would look like.
He said the two nations would open a 30-day negotiation window to try to reach a trade deal.
“In parallel, we must reinforce our strength at home and safeguard Canadian workers and businesses from the unjust U.S. tariffs,” Carney said.
In March, President Donald Trump imposed a 25% tariff on all steel and aluminum imports and increased the rate to 50% earlier this month. Canada retaliated with a 25% counter-tariff.
A trade deal between the two countries, which has been discussed since Trump began levying tariffs on most of the U.S.’s allies, has been complicated by Trump’s “Golden Dome” talks. The “Golden Dome” is Trump’s parallel to Israel’s Iron Dome air defense system.
Trump has said Canada wants to be a part of it, but it would have to pay a sum.
“They’re going to have to pay a lot of money for the dome,” Trump said. “They want to be a part of it. We may make a separate deal on that, by the way. We discussed it. They want to be at $71 billion, they’re gonna pay. They’ll be in the dome.”
Such a missile defense system could be more crucial at a time when Iran and Israel are trading aerial attacks on each other.
“Canada is looking at how it could participate in or complement the initiative,” a Canadian Embassy spokesperson told the Washington Examiner.
Carney also announced that Canada will limit federal procurement policies to favor Canadian suppliers and “reliable trading partners” by June 30 and will impose a 100% steel tariff on non-free trade agreement countries.
More measures will be coming soon to combat “unfair trade in the steel and aluminum sectors, which are exacerbated by U.S. actions,” the Canadian government announced.
All of the measures aim to help prioritize Canadian steel. Still, the country hopes to cooperate with the U.S. on steel, given that it is Canada’s closest neighbor, Keanin Loomis, president of the Canadian Institute of Steel Construction, told CTV.
CARNEY WEIGHS PAYING FOR TRUMP’S GOLDEN DOME AMID US-CANADA TRADE TALKS
“There’s a lot of unfairly traded, subsidized steel … that’s decimated our domestic industries,” Loomis said.
After the U.S. imposed tariffs on imports, “this steel is trying to find a home and looking, of course, northward,” he added.
