https://www.energypolicy.columbia.edu/
In an escalation of trade tensions, Donald Trump threatened to double tariffs on Canadian steel and aluminum to 50 percent this week. This increase would have been in response to Ontario’s 25 percent surcharge on electricity exports to the United States. The threat rattled markets and several major indices continued to decline after the announcement, increasing fears of a recession[1]. [MRR1]
While Trump has at least temporarily backed down from the plan to raise the tariff to 50%, the 25% aluminum and steel import tariffs are still a big blow to North American supply chain interdependency and resilience. The following Q&A discusses the impact of Trump’s tariffs on US-Canada minerals trade and its ripple effects on supply chains, prices, and policy.
It finds that the tariffs are costly and directly undermine North American supply chain resilience, as no immediate substitute sources are available, domestically or from foreign allies.
1) How have the United States and Canada collaborated on minerals and metals in the recent past?
Recent years have seen the United States and Canada deepen cooperation on critical minerals in response to geopolitical pressures and the need for supply chain resilience, even during the first Trump administration.
For the rest of this article: https://www.energypolicy.columbia.edu/the-impact-of-trump-tariffs-on-us-canada-minerals-and-metals-trade/