Donald Trump’s loss relieves fears of future U.S. steel tariffs under Biden – by Bobby Hristova (CBC News Hamilton – November 8, 2020)

https://www.cbc.ca/news/canada/hamilton/

Hamilton’s steelworkers and those tied to the industry can sleep easier knowing Donald Trump lost the U.S. presidential election — and his tariffs on steel likely won’t be returning anytime soon.

Roughly 40,000 Hamilton jobs hinge on the steel industry and Keanin Loomis, president of the Hamilton Chamber of Commerce, said he’s excited by the idea of Canada and the U.S. becoming allies again with Joe Biden in office.

“The spectre of tariffs that was constantly hanging over our heads for the last couple of years is now gone, so when you look at the damage that could have been done over the next four years, if [Trump] had been elected, I think we avoided a lot of uncertainty,” Loomis said in an interview on Sunday.

“A great deal of optimism has been ejected into the economy … confidence is one of the major underpinnings of any economy.”

In 2018, the Trump government implemented tariffs — 25 per cent on imports of steel and 10 per cent on aluminum — saying Canadian steel was a security risk. Canada implemented retaliatory tariffs, and has long argued the Trump-imposed tariffs were illegal.

For the rest of this article: https://www.cbc.ca/news/canada/hamilton/biden-trump-steel-aluminum-tariffs-hamilton-1.5794608

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