Canada should halt strategic metals exports to U.S. says UNIFOR over steel tariffs: Live updates here.

Source: CTVNews.ca
Edited by Yiannis Damellos: June 04, 2025
Canada must match Trump’s 50 per cent metals tariffs, halt strategic metals exports to the U.S. and block companies from relocating Canadian jobs in response to U.S. pressure. That’s according to Unifor, Canada’s largest private sector union, which released its list of demands to the Carney government following Trump’s tariff escalation.

Summary

Canada Urged to Stop Strategic Metals Exports to U.S.

A union argues that Canada should halt its strategic metals exports to the U.S. in response to escalating tariffs imposed by President Trump, who is set to sign an executive order doubling tariffs on steel and aluminum to 50%. This proclamation took effect at 12:01 a.m. EDT Wednesday, aiming to counteract foreign countries dumping low-priced metals that undermine the U.S. market. Ottawa has labeled these tariffs as “unlawful and unjustified,” noting that Canada is the largest supplier of steel to the U.S., which imports about 25% of its steel.

Ontario Premier’s Call for Retaliation

At 11:30 a.m. EDT, Ontario Premier Doug Ford requested that Prime Minister Mark Carney double Canada’s retaliatory tariffs on steel and aluminum to 50%. He warned that the U.S. tariffs would lead to significant job losses in both countries and urged Canada to sever ties with U.S. steel manufacturers.

Bank of Canada Comments on Tariffs

By 11 a.m. EDT, Bank of Canada Governor Tiff Macklem acknowledged that Trump's tariffs present a significant challenge to the economy. While the economy has shown resilience, rising unemployment and increased business costs for finding new markets are concerning.

Local Impact in Sault Ste. Marie

At 10:38 a.m. EDT, Sault Ste. Marie's mayor expressed "anger and anxiety" over the tariffs, highlighting the community’s reliance on the steel industry. He urged the federal government to take immediate action to support local workers.

Government Response Uncertain

At 10:20 a.m. EDT, Prime Minister Carney refrained from detailing Canada’s retaliation strategy, calling the tariffs unjustified and emphasizing ongoing discussions with the U.S.

Wall Street Updates

At 9:55 a.m. EDT, U.S. stock markets showed slight gains, with the S&P 500 nearing an all-time high. This uptick followed various corporate earnings reports.

Canada’s Position on Energy and Trade

Plans are underway to transmit energy from Eastern Canada to other markets, prioritized as a national project. Additionally, the government is working to address Chinese tariffs on agricultural products, recognizing them as a top priority.

International Tariff Discussions

The U.S. and EU are in Paris negotiating tariff issues, although substantial agreements are unlikely due to complex divisions.

Economic Outlook

The OECD has downgraded its global growth forecast, warning that the ongoing trade war and rising protectionism could further hinder economic prospects and inflate prices.