The Globe and Mail reports in its Friday edition that aluminum and steel levies are impacting both the United States and Canada, with Treasury Secretary Scott Bessent indicating a willingness to collaborate with Ottawa on addressing the tariffs affecting producers in both countries.
The Globe's Niall McGee and Jeffrey Jones write that in June, President Donald Trump doubled the tariff on global imports of aluminum and steel to 50 per cent, citing national security concerns over the U.S. not producing enough of the metals domestically. Ford earlier this week said tariffs cost it $800-million (U.S.) in its second quarter, with levies on Canadian steel and aluminum accounting for a large portion of the hit. Ford's F-150 pickup truck, a top seller in the U.S., is made from military-grade aluminum produced in Quebec. Mr. Bessent conceded on CNBC on Thursday that the F-series trucks use aluminum.
"I think maybe the aluminum tariffs hit them harder," he said of the damage to Ford's bottom line. On Thursday Mr. Trump signed an executive order raising tariffs on Canadian goods outside the USMCA from 25 per cent to 35 per cent. Most trade between Canada and the U.S. is covered by USMCA, and separate metals tariffs remain unchanged.
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