U.S. steel tariff hikes draw pushbacks from Canada, Mexico, EU
發佈日期: 2025-06-05 20:58
TVB News
Ottawa said it is engaged in intensive discussions with Washington after U.S. tariffs on steel and aluminium surged to 50 percent.
Mexico and the European Union are also weighing up possible retaliatory measures if trade negotiations fail.
In an effort to further shield the domestic industry from foreign competition, Washington has officially doubled down on the tariff rate on imported steel and aluminium, raising levies from 25 to 50 percent as of Wednesday.
This according to an executive proclamation signed by U.S. President Donald Trump.
The latest tariff punch has drawn global pushback, especially from key trading partners such as Canada, Mexico, and the European Union.
Canada is the top supplier of both metals to the U.S. The country's central bank held interest rate at 2.75 percent, citing risks brought by the "uncertainty" of U.S. trade policy.
The governor of the Bank of Canada said: "The outcomes of the trade negotiations are highly uncertain. Tariffs are well above their levels at the beginning of 2025, and new trade actions are still being threatened. The recent further increase in U.S. tariffs on steel and aluminium announced today underline the unpredictability of U.S. trade policy."
Unifor, one of the largest labour unions in Canada, urged authorities to take immediate countermeasures, including limiting Canada's exports of critical metals to the U.S.
Canadian Prime Minister Mark Carney said the government is in live discussions with the Americans to remove all tariffs on Canada, while also preparing reprisals if negotiations do not succeed.
Mexico is also bracing for the hikes. Its president, Claudia Sheinbaum, criticised what she calls unfair and groundless tariffs, pointing out Mexico imports more steel from America than it exports.
She further noted Mexico could take measures to protect its jobs and the steel industry if no agreement is reached in forthcoming trade talks in Washington.
Brazil sent nearly 4 million tonnes of steel to the U.S. last year. Some traders lamented disarray in the industry amid Trump's tariff flip-flops.
Bruno Russo, partner of Timbro Trading, said: "We are living in chaos. As I said before, it's the uncertainty, because all the players, either the seller or the buyer, and we as traders are in the middle, we have to be very careful with the volatility that occurs due to sudden changes of rules."
A spokesperson for the European Commission said the tariff increase undermines ongoing efforts to reach a negotiated agreement between Brussels and the United States.
European Trade Commissioner Maros Sefcovic, who just met with U.S. Trade Representative Jamieson Greer in Paris, noted Europe and the U.S. are heading in the right direction in trade talks, but the latest duties are not helpful if both sides want to maintain momentum.
He also said Europe is not the source of global overcapacity that the Trump administration tried to address with tariffs.
Sefcovic called on both sides to work together to tackle the issue.
