Trump doubles tariffs on Canadian steel, aluminium to 50% in trade retaliation
The energy tariff was imposed in retaliation to Trump’s restoration of Section 232 tariffs on imports of steel and aluminium from Canada and Mexico that was announced last month and is slated to go into effect on Wednesday March 12.
Trump announced the increase in tariffs for Canada on Tuesday March 11 on his Truth Social platform, claiming Canada was “one of the highest tariffing nations anywhere in the world.
“I will shortly be declaring a National Emergency on Electricity within the threatened area [of Minnesota, New York and Michigan.] This will allow the US to quickly do what has to be done to alleviate this abusive threat from Canada,” the president said in the post.
Trump also called on Canada to “immediately drop their Anti-American farmer tariff of 250-390% on various US dairy products, which has long been considered outrageous.”
The US president promised additional tariff retaliation against Canada when it announces reciprocal tariffs on trading partners on April 2.
“If other egregious, long time tariffs are not likewise dropped by Canada, I will substantially increase, on April 2, the tariffs on cars coming into the US which will, essentially, permanently shut down the automobile manufacturing business in Canada. Those cars can easily be made in the USA!” Trump wrote in his Truth Social post.
He reiterated his contention that Canada relies on the US for military protection and “pays very little for national security.”
“We are subsidizing Canada to the tune of more than $200 billion a year. Why? This cannot continue,” Trump said, restating his call for Canada “to be become the 51st state, a move that make all tariffs, and everything else, totally disappear” and lower taxes for Canadians.
“The artificial line of separation drawn many years ago will finally disappear, and we will have the safest and most beautiful nation anywhere in the world — And your brilliant anthem, ‘O Canada,’ will continue to play, but now representing a great and powerful state within the greatest nation that world has ever seen,” Trump said.
Tariffs on Canada, Mexico definitely start Tuesday
Indicating that the time for negotiations on tariffs with Canada and Mexico is over, US President Donald Trump on Monday said he will proceed with the 25% tariffs on the two countries on Tuesday, Kallanish discovers from the White House press briefing.
Trump told reporters that there is no room for Canadian or Mexican officials to negotiate a reprieve from the levies.
“Tariffs, 25% on Canada, and 25% on Mexico … will start tomorrow,” Trump confirmed during the press gathering. “So they’re going to have a tariff, and what they have to do is build their car plants, frankly, and other things, in the United States, in which case you have no tariffs.”
Mexican President Claudia Sheinbaum on Monday said she was waiting for Trump to make a decision about tariffs and that she might talk with him before the deadline. “Everything is possible,” she said.
John Isaacson USA
Trump postpones tariff against Canadian and Mexican goods
The US has temporarily postponed a 25% tariff against imports of Canadian products for at least 30 days, according to Prime Minister Justin Trudeau.
The Canadian government has committed to increasing security measures along its border with the US in an agreement that, for now, allows the nations to avoid a trade war, Kallanish discovers in a Trudeau social media post late Monday.
Trump had said the reason for imposing the tariff on its northern ally is entirely related to what it deems is a failure to thwart the passage of drugs and undocumented people from crossing into the US.
The Canadian Steel Producers Association (CSPA) states that it has led efforts to protect fair trade policies, making the looming 25% tariffs from the US “deeply disappointing,” the association says in a statement.
“We are also concerned that the tremendous effort Canada has taken to safeguard the North American marketplace from unfair steel trade has gone unnoticed. From the enactment of melted-and-poured requirements to the levelling of tariffs on a wide array of Chinese steel products, Canada has demonstrated to the United States its commitment to a tough stance against industrial overcapacity, along with our country’s intention to be the best partner of the United States in defending against unfair practices,” the CSPA contends.
The Canadian steel advocacy organisation criticises the disruptions to steel business operations on both sides of the border and warns that these disruptions will have ripple effects on businesses and citizens in both nations.
“The North American steel industry is highly integrated across the Canadian and US border. With $20 billion in annual steel trade between our nations, these tariffs will cause significant disruption and economic hardship in both Canada and the United States. These disruptions will negatively impact businesses, workers and their families,” states the CSPA.
Earlier Monday, the White House confirmed that Trump would delay new tariffs against Mexican goods, also for 30 days. Before the delays, the 25% tariffs were scheduled to go into effect Tuesday.
Keanin Loomis, chief executive of the Canadian Institute of Steel Construction, says the organisation has observed cancelled contracts for steel as the industry waits to see what happens next, according to a report by the Canadian Broadcasting Corp.
“Faced with uncertainty, local steelmakers and their customers are pausing plans,” Loomis mentions in the report.
Canada’s International Trade and Finance Commission has updated its webpage, specifying what a tariff is, how it is being used against Canada, and the nation’s current measures to mitigate the inevitable impacts. In its update, the commission states that it will hear public comments during a 21-day period on its proposed counter-tariffs on US aluminium and steel exports.
Kristen DiLandro USA
Biden imposes melted-and-poured requirement on Mexican steel
US President Joe Biden has ordered that steel items imported from Mexico must be melted and poured in Mexico, Canada or the US to be eligible for Section 232 exemptions. This effectively slaps a 25% tariff on any steel trans-shipped through Mexico that originated in China or other sources outside North America.
“In my judgment, these measures will provide an effective, long-term alternative means to address any contribution by Mexican steel articles imports to the threatened impairment of the national security by restraining steel articles imports to the United States from Mexico, limiting transshipment, and discouraging excess steel capacity and production,” Biden says in a White House statement seen by Kallanish.
In a presidential proclamation Wednesday, Biden says US domestic steel production utilisation rates remain below the recommended 80% threshold due to the effect of imports. The administration is monitoring unfairly traded foreign entries and circumvention of existing tariff orders.
Commerce Secretary Gina Raimondo has determined that “steel articles are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States,” the proclamation states.
In particular, “imports of steel articles from Mexico have increased significantly as compared to their levels at the time of Proclamation 9894,” which was issued by then-President Donald Trump in 2019.
Biden’s new duty order is effective immediately, the proclamation specifies.
The presidential proclamation states that importers will be required to inform US Customs and Border Protection of the melted-and-poured origin of their steel and derivative steel items. That rule will be implemented “as soon as practicable”.
Klöckner & Co: Erwerb von National Material of Mexico abgeschlossen
Nach der Genehmigung der zuständigen Kartellbehörden hat Klöckner & Co den Erwerb von National Material of Mexico („NMM“) vollzogen. NMM ist ein führendes unabhängiges Service-Center-Unternehmen sowie Anbieter von Werkstoffen für die Automobilindustrie und andere industrielle Endmärkte in Nordamerika und mit zehn Standorten in Mexiko vertreten. Durchgeführt wurde die im Dezember 2022 vereinbarte Transaktion über die US-Tochtergesellschaft Kloeckner Metals Corporation („KMC“).
Durch den Erwerb von NMM kann KMC seine Präsenz in Mexiko deutlich ausbauen und seine Position dort stärken, wo die bedeutendsten Automobil- und Industriekunden ansässig sind. Da sich die beiden Unternehmen bei der regionalen Abdeckung, den Kundensegmenten und mit Blick auf die starke Position von NMM im Automobilsektor hervorragend ergänzen, bringt der Zusammenschluss Vorteile für beide Unternehmen.
Zukauf gilt als „ideale Ergänzung“
Guido Kerkhoff, Vorstandsvorsitzender der Klöckner & Co SE: „Der Abschluss dieser Transaktion stellt einen wichtigen Meilenstein auf dem Weg zur Umsetzung unserer Unternehmensstrategie ‚Klöckner & Co 2025: Leveraging Strengths‘ dar. Dadurch werden wir unsere führende Position in der Stahl- und Metalldistribution sowie im Stahl- Service-Geschäft in Nordamerika langfristig weiter stärken. Ab sofort profitieren unsere Kunden von einem noch größeren Produkt- und Service-Portfolio.“
John Ganem, CEO von Kloeckner Metals Corporation: „In National Material of Mexico haben wir die ideale Ergänzung gefunden, um die Kloeckner Metals Corporation erfolgreich in die Zukunft zu führen. Wir freuen uns auf die Zusammenarbeit mit dem starken Team von National Material of Mexico und sind uns sicher, dass wir unsere Erfolgsgeschichte auf dem nordamerikanischen Markt gemeinsam fortschreiben werden.“
Das kombinierte Unternehmen deckt mit 56 Standorten und rund 2.600 Beschäftigten alle relevanten Regionen der USA und Mexikos auf breiter Basis ab. Künftig will das Unternehmen seine Marktposition weiter ausbauen, sein Produktangebot erweitern und die bestehenden Kundenbeziehungen durch Cross-Selling ausweiten. Zudem erhalten die Kunden von KMC einen besseren Zugang zu Elektroband, um die steigenden Investitionen in erneuerbare Energien und die zunehmende Nachfrage nach E-Mobilität in Nordamerika zu unterstützen. NMM soll Schritt für Schritt unter der Marke Kloeckner Metals positioniert werden. Das überaus erfahrene Managementteam von NMM mit Carl Grobien und Steve Badyna wird dem Unternehmen erhalten bleiben und das Wachstum weiter vorantreiben.
Weitere Meldungen aus der Rubrik Markt finden Sie > hier.
Source: stahleisen.de
