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Investing.com -- Canada will delay any new retaliatory measures against the United States after President Trump doubled tariffs on imported steel and aluminum. Prime Minister Mark Carney said the pause comes as Ottawa and Washington engage in intensive negotiations on a potential bilateral economic and security pact.
The U.S. move raises tariffs from 25% to 50% on foreign metals, impacting Canada, the United States’ largest supplier of both steel and aluminum. Canadian officials warned the escalation risks undermining key cross-border industries and jobs on both sides of the border.
"The latest tariffs on steel and aluminum are unjustified. They’re illegal," Carney told reporters. "They’re bad for American workers, bad for American industry, and, of course, for Canadian industry as well."
Canada has already imposed countermeasures covering C$90 billion in U.S. imports prior to remissions and shows no signs of lifting them. "We have counter tariffs in a gross amount before remissions on over 90 billion of US imports. We’ve acted strong. Those are in place," Carney said.
The Prime Minister suggested a measured approach, citing the momentum of current trade talks. "We will take some time, not much, some time, because we are in intensive discussions right now with the Americans on the trading relationship," he noted.
Carney also acknowledged the new U.S. measures apply globally, not just to Canada. "I would note that the American action is a global action. It’s not one targeted Canada," he said, adding further retaliation will depend on the outcome of ongoing negotiations.