Business
Trump imposes 25 percent tariff on all foreign steel, aluminum imports

Quick Hit:
President Donald Trump announced Sunday that he will impose a 25% tariff on all foreign steel and aluminum imports starting Monday. Speaking from Air Force One, Trump said the tariffs will apply to all countries, including key U.S. allies like Canada and Mexico. He also plans to unveil reciprocal tariffs on trading partners within days.
Key Details:
- Trump’s tariffs target steel and aluminum imports from all nations, including top suppliers Canada, Brazil, Mexico, South Korea, and Vietnam. Canada is also the leading source of U.S. aluminum imports.
- This move is part of Trump’s broader trade agenda, which has included tariffs on China and previous levies on Canada and Mexico. His first-term steel and aluminum tariffs sparked tensions with allies but led to renegotiated trade agreements.
- Trump’s proposal for reciprocal tariffs could trigger global trade disputes. He plans to announce these new measures midweek, stating, “If they charge us, we charge them.” Critics warn such tariffs could violate World Trade Organization rules.
Diving Deeper:
President Donald Trump announced a sweeping 25% tariff on all imported steel and aluminum, reigniting trade battles that defined his first term. Speaking aboard Air Force One while traveling to the Super Bowl, Trump confirmed that the tariffs would take effect Monday and apply to “everybody,” including major U.S. trading partners.
“Any steel coming into the United States is going to have a 25 percent tariff,” Trump said. “Aluminum, too.”
The decision marks a sharp escalation in Trump’s ongoing trade strategy, which has already led to tariffs on China and threats against European nations, Taiwan, and other key trading partners. Trump’s push for reciprocal tariffs—set to be detailed later this week—aims to raise U.S. import duties to match those imposed by foreign nations on American goods.
The impact of Trump’s steel and aluminum tariffs will be particularly significant for Canada, the largest supplier of both metals to the U.S. Other top steel providers include Brazil, Mexico, South Korea, and Vietnam. Aluminum imports primarily come from Canada, followed by the United Arab Emirates, Russia, and China.
Trump’s decision mirrors actions taken during his first term when he imposed broad steel and aluminum tariffs, triggering backlash from allies. He later eased restrictions on Canada and Mexico after renegotiating trade agreements. The Biden administration subsequently reached separate agreements with the European Union, the United Kingdom, and Japan, allowing some of those trade barriers to be reduced.
It remains unclear whether Trump’s new tariffs will be in addition to those still in place or replace existing measures. Either way, the move is likely to spark further retaliation from foreign governments.
Trump’s aggressive stance on trade has already disrupted global markets in recent days with frequent tariff threats. His proposed reciprocal tariffs, set to be announced Tuesday or Wednesday, are expected to take effect “almost immediately” and could violate World Trade Organization commitments.
“Very simply, if they charge us, we charge them,” Trump said.
As Trump moves forward with his latest round of trade measures, the global economic response remains uncertain. What is clear, however, is that his trade agenda remains a central pillar of his economic policy, setting the stage for renewed tensions with key allies and trading partners.
Agriculture
Grain farmers warn Canadians that retaliatory tariffs against Trump, US will cause food prices to soar

From LifeSiteNews
One of Canada’s prominent agricultural advocacy groups warned that should the federal Liberal government impose counter-tariffs on the United States, it could make growing food more expensive and would be a nightmare for Canadian farmers and consumers.
According to Grain Growers of Canada (GGC) executive director Kyle Larkin, the cost of phosphate fertilizer, which Canada does not make, would shoot up should the Mark Carney Liberal government enact counter-tariffs to U.S. President Donald Trump’s.
Larkin said recently that there is no “domestic phosphate production here (in Canada), so we rely on imports, and the United States is our major supplier.”
“A 25% tariff on phosphate fertilizer definitely would have an impact on grain farmers,” he added.
According to Statistics Canada, from 2018 to 2023, Canada imported about 4.12 million tonnes of fertilizer from the United States. This amount included 1.46 million tonnes of monoammonium phosphates (MAP) as well as 92,027 tonnes of diammonium phosphate (DAP).
Also imported were 937,000 tonnes of urea, 310,158 tonnes of ammonium nitrate, and 518,232 tonnes of needed fertilizers that have both nitrogen and phosphorus.
According to Larkin, although most farmers have purchased their fertilizer for 2025, they would be in for a rough 2026 should the 25 percent tariffs on Canadian exports by the U.S. still stand.
Larkin noted how Canadian farmers are already facing “sky-high input costs and increased government regulations and taxation.”
He said the potential “tariff on fertilizer is a massive concern.”
“If Ottawa goes ahead, we’re calling on them to compensate producers,” he said, adding that any funds raised through tariffs on “essential products like fertilizer should go back to the producer.”
Trump has routinely cited Canada’s lack of action on drug trafficking and border security as the main reasons for his punishing tariffs.
About three weeks ago, Trump announced he was giving Mexico and Canada a 30-day reprieve on 25 percent export tariffs for goods covered by the United States-Mexico-Canada Agreement (USMCA) on free trade.
However, Ontario Premier Doug Ford, despite the reprieve from Trump, later threatened to impose a 25 percent electricity surcharge on three American states. Ford, however, quickly stopped his planned electricity surcharge after Trump threatened a sharp increase on Canadian steel and aluminum in response to his threats.
As it stands, Canada has in place a 25 percent counter tariff on some $30 billion of U.S. goods.
It is not yet clear how new Prime Minister Mark Carney will respond to Trump’s tariffs. However, he may announce something after he calls the next election, which he is expected to do March 23.
Business
Mark Carney admits he may have to recuse himself on certain matters due to conflicts of interest

From LifeSiteNews
After lashing out at a reporter who pressed him about his investment holdings, Prime Minister Mark Carney has since admitted he will “probably” have to recuse himself on certain governmental matters because of potential conflicts of interest.
Since taking office from Justin Trudeau a week ago, Carney on Tuesday admitted that he will “probably” have to recuse himself from certain governmental matters due to potential conflicts of interest. The prime minister made the concession shortly after lashing out at a reporter when asked whether his large private investment holdings present an ethical issue.
During a Tuesday press conference in Canada’s Arctic, Carney was asked directly if he would have to recuse himself from certain governmental matters in a similar way as to what was required by former Liberal Prime Minister Paul Martin.
“Yes. We are having discussions, and a trust has been created,” he answered, adding that “along with the Ethics Commissioner, probably some screens will be put in place.”
Carney said that his “assets” have been put in a “blind trust well in advance of the requirements.”
“So they’ve been disposed of. But what happens is that there’s a discussion with the Ethics Commissioner for certain screens around certain issues, and that’s a process that is underway,” he added.
“It’s a natural process, and of course, it’s part of the way our system works. And I very much respect the system and those screens become public as they’re developed.”
He was then asked why he did not disclose any potential conflicts of interest in a forthcoming manner. He said this was a question for the “Ethics Commissioner if there is anything that has a major impact, then it’s clear there will be a screen.”
“I can say we are working quickly. I’m working quickly when it comes to those issues.”
Carney’s Tuesday statements came shortly after he lashed out at Canadian Broadcasting Corporation reporter Rosemary Barton when the journalist pressed him on his assets. Barton said she found it “very difficult to believe” there were no possible conflicts of interest now that he is prime minister.
Carney seemed to become visibly annoyed with the line of questioning, telling Barton to “look within herself.”
Before becoming prime minister, Carney worked for Brookfield Asset Management and the United Nations special envoy on climate action.
Recent reports claim that Carney held $6.8 million in Brookfield Asset Management Ltd. stock options before quitting the company.
Conservative leader calls out Carney’s potential conflicts of interest
Responding to the chatter, Conservative Party leader Pierre Poilievre told reporters that the prime minster is “trying to distract from his many scandals and conflicts of interest as well as his disastrous record as Justin Trudeau’s economic advisor by talking about Trump.”
“He’s the guy who sold out to Trump,” said Poilievre, adding that six days after U.S. President Donald Trump “threatened Canada” with tariffs “to steal our jobs,” Carney “announced to Brookfield shareholders that he would move his headquarters from Canada to New York.”
“And when you asked him about it, he lied to your face,” he added.
Poilievre said the Conservatives have this evidence “in writing and we proved it.”
“He sold out Canada. He put his profit ahead of our people and he did exactly what Donald Trump wanted. Never before have we had a prime minister so conflicted and compromised and yet so little scrutinized,” he added.
Carney, an admitted “elitist” and “globalist,” is reportedly due to call a federal election this weekend, just days after being installed as prime minister following the Liberal Party leadership race.
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