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Descrease article font size Increase article font size New U.S. tariffs on Canadian steel and aluminum went into effect Wednesday as a trade war between the two North American neighbours escalates. U.S. President Donald Trump had on Tuesday threatened to double the planned metal tariffs to 50 per cent in response to Ontario’s decision to impose a 25 per cent surcharge on electricity exports to the U.S, which was retaliation for Trump imposing sweeping 25 per cent tariffs on Canadian goods last week.The White House on Tuesday afternoon said the steel and aluminum tariffs would go ahead at 25 per cent instead of 50 per cent after Ontario suspended its electricity tax for three U.S. states.The federal government has so far retaliated to the broad...

The national president of Unifor says the ongoing “chaos” of U.S. President Donald Trump’s shifting announcements on tariffs has led to investments in sectors like the auto industry being put on hold, posing a danger to the country’s economy. Lana Payne’s comments come just minutes after the White House announced Tuesday Trump would not double incoming tariffs set for Wednesday on steel and aluminum, as he had threatened to do just hours earlier, instead keeping them at the original rate of 25 per cent.“He likes chaos, he likes the drama, but the reality is is that his actions are having a real-time impact on Canadian workers and they will have a real-time impact on American workers,” said Payne, whose union represents people in various industries including steel and aluminum.The 25 per ce...

By Staff The Canadian Press Posted March 11, 2025 6:56 pm 1 min read Descrease article font size Increase article font size British Columbia’s Energy Ministry says the United States has paused negotiations with Canada on the wide-reaching Columbia River Treaty that regulates everything from flood control and power generation to water supply and salmon restoration in the region. The ministry says in a news release that U.S. President Donald Trump’s administration “is conducting a broad review of its international engagement.”The two countries reached an in-principle deal on a new version of the decades-old treaty last July, and ...

U.S. President Donald Trump has been in office for less than 100 days, but he has already imposed tariffs on Canada and other key trading partners — with threats of more to come. The growing trade war between the U.S. and Canada has sparked retaliation from Ottawa and the provinces, roiled stock markets and raised recession and inflation fears on both sides of the border.Trump has stuck firm to his belief that tariffs on foreign importers will raise billions of dollars in revenue for the U.S. that will help address the national debt and bring manufacturing and investment back to the country after decades of free trade.Economists almost universally agree the tariffs amount to an extra tax on importers, despite Trump’s promises during his presidential campaign to lower corporate tax rates. ...

By Sarah Ritchie The Canadian Press Posted March 11, 2025 12:38 pm Updated March 11, 2025 12:39 pm 1 min read Descrease article font size Increase article font size Mark Carney’s leadership campaign says he has given a “full and robust conflict of interest management plan” to the country’s ethics commissioner. In a media statement, the campaign says that as part of that plan, Carney has divested all of his assets other than personal real estate into a blind trust.The campaign spokesperson says this happened fou...

Members of U.S. President Donald Trump’s administration are defending his growing trade war with Canada and the impact it’s having on markets and retirement savings, claiming any short-term pain will eventually lead to long-term “prosperity.” The U.S. stock market was sinking further Tuesday after Trump said he would double tariffs on Canadian steel and aluminum, continuing a downward trend that has pulled Wall Street more than nine per cent below its record set just a month ago.Trump said it was in direct response to Ontario’s move to put an export tax on electricity it sells to U.S. states, which was retaliation for the sweeping 25 per cent U.S. tariffs imposed earlier this month.Asked if she can promise Americans who have seen their pensions and retirement savings plans affected by the ...