The Decibel Trump doubles down on steel, aluminum tariffs
Jun 5, 2025
Jason Kirby, a staff reporter at The Globe’s Report on Business, delves into the significant increase in U.S. steel and aluminum tariffs. He discusses the dramatic implications for Canadian producers, with one stating that their American business has become ‘unviable.’ Kirby also examines the potential ripple effects on consumer prices and jobs, alongside the strategic motivations behind Trump's decisions. Additionally, he highlights Canada’s retaliatory measures and the brewing tensions that could escalate into trade wars.
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Lorain's Steel Mill Decline
- The Republic Steel Mill in Lorain, Ohio, is a huge, rusted symbol of the rust belt decline.
- Once employing 12,000, it has been idle since 2016, showing steel sector challenges firsthand.
Tariffs to Boost Domestic Industry
- Trump's tariffs aim to make foreign steel imports so expensive that America must rely on domestic production.
- This protectionist move is intended to revive U.S. manufacturing and job creation in steel and aluminum sectors.
Broader and Harsher Tariffs
- A 50% tariff largely blocks Canadian steel and aluminum access to the U.S. market.
- This new tariff applies to a broader range of products beyond raw metals, intensifying the impact on Canada.