The latest chapter in the global trade saga is heating up as the US and Canada exchange tariff blows over steel and aluminum. 🌍💥 President Trump announced a 35% tariff on Canadian imports starting August 1 – a move critics call a ‘counterproductive game’ that risks destabilizing North American trade ties.
Why It Matters
Canada, the US’s largest steel supplier, retaliated swiftly with a 25% surcharge on American steel products. But the drama doesn’t stop there: Ottawa also plans to target steel ‘melted and poured in China’ imported via third countries, adding a geopolitical twist. 🔥
Behind the Numbers
🇺🇸 US tariffs: 50% on foreign steel/aluminum
🇨🇦 Canada’s counter-tariff: 25% on US steel
🔄 Negotiations: Stalled since July 10 announcement
Zhou Jianjun, an economist at Zhejiang University, argues these measures are ‘outdated’ in today’s interconnected economy. 💡 With supply chains spanning continents, experts warn such tit-for-tat moves could ripple through global markets.
What’s Next?
As August 1 approaches, businesses on both sides of the border brace for impact. Will this trade spat cool down – or spark a wider economic chill? ❄️ Follow @NewspaperAmigo for real-time updates!
