Canada will refrain from raising tariffs on American exports in the hope of convincing the United States to stop tariff blackmail – Bloomberg

Canadian Prime Minister Mark Carney said his country will not immediately react to the doubling of tariffs on steel and aluminum by the administration of White House chief Donald Trump. Carney noted that officials are holding “intense discussions” on trade relations between the countries, Bloomberg reports, UNN writes.

These discussions are ongoing

DetailsHe added that the government “will take some time” to consider its reaction to the latest US move to raise tariffs on foreign-made metals to 50%.

Dominic LeBlanc, who is responsible for trade negotiations with the US in Carney’s cabinet, was in Washington on Tuesday for a meeting with Commerce Secretary Howard Lutnick. It was his second trip to the US capital in the past two weeks.

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Carney called the increased tariffs “unjustified, illegal, bad for American workers, bad for American industry, and of course, for Canadian industry as well.”

Nevertheless, his pause on measures in response to the US decision is a change of approach compared to the policy of his predecessor Justin Trudeau, who usually responded to any new Trump tariffs by immediately announcing corresponding counter-tariffs on American-made goods. In March, the Trudeau government responded with 25% tariffs on American products worth about 60 billion Canadian dollars (43.9 billion US dollars), including a wide range of steel and aluminum products.

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Since then, Carney has exempted some of these goods from counter-tariffs. In April, the government announced a six-month suspension of import duties on certain goods used in manufacturing and in critical sectors such as healthcare and public safety.

However, Carney’s policy is already facing pressure in Canada, where he is being demanded that the government respond quickly to the new tariff increase by President Trump. Ontario Premier Doug Ford has called on the national government to raise counter-tariffs, while the country’s largest private sector union has said it wants to see “immediate and decisive” action.

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These tariffs are killing investment in our steel, aluminum and automotive sectors, and we are already seeing the consequences in job losses and economic instability

According to MEPS International data, Canada is the largest foreign supplier of steel to the US, accounting for about 6% of the country’s consumption in 2024. It has a much larger impact on aluminum production and is the largest foreign seller of aluminum consumed in the US.

SupplementThe Canadian government plans to increase defense spending to protect sovereignty. Canada is lagging behind NATO’s target of 2% of GDP, making it a violator in the alliance.