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      in Elections

      Trump Tariffs Leave No Country Room for Exemptions, U.S. Tells Canada

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      In talks aimed at finding common ground on tariffs, Canadian officials were told April 2 will be a crucial day in setting the Trump tariff doctrine, and any relief could come later.Top U.S. representatives told a Canadian delegation on Thursday that there was no way Canada, or any other country in President Trump’s cross hairs, could avoid a new round of sweeping tariffs on April 2, according to two people with direct knowledge of their conversation.Any negotiations to remove some tariffs or even strike a more comprehensive trade deal would come after that date, American officials told their Canadian counterparts at a meeting in Washington, D.C. Mr. Trump, through an executive order, has ordered an in-depth examination of trade between the United States and several partners, including Canada, and the imposition of “reciprocal” tariffs beginning on April 2, to match surcharges other countries impose on U.S. goods.The United States was represented in the meeting by Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. Canada was represented by Finance Minister Dominic LeBlanc, Industry Minister François-Philippe Champagne, Ontario Premier Doug Ford and Canada’s ambassador to the United States, Kirsten Hillman.The Canadian officials left the meeting, which lasted more than an hour, with a clearer — but not necessarily more optimistic — sense of what lies ahead, according to two of them with direct knowledge of what transpired, who requested anonymity because they were not authorized to brief the press about it.While the Trump officials made clear their pledge on reciprocal tariffs, Mr. Trump has shown a repeated penchant for vowing to press ahead with tariffs only to decide at the last minute to back down or grant a reprieve.The meeting was a an effort to inject a calmer approach to the relationship between the two countries, even as Mr. Trump on Thursday continued to level threats against Canada’s sovereignty.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      in Elections

      Trump apuesta a que EE. UU. tolerará una recesión a fin de revivir la industria manufacturera

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      El presidente ofrece razones para imponer aranceles, como los ingresos, la influencia sobre los competidores y la creación de empleo. Pero el pasado sugiere una historia más compleja.Las guerras comerciales simultáneas del presidente Donald Trump con Canadá, México, China y la Unión Europea equivalen a una enorme apuesta económica y política: que los estadounidenses soporten meses o años de penuria económica a cambio de la lejana esperanza de reindustrializar el corazón de Estados Unidos.Es enormemente arriesgado. En los últimos días, Trump ha reconocido, a pesar de todas sus seguras predicciones de campaña de que “vamos a tener un auge como nunca antes hemos tenido”, que Estados Unidos puede dirigirse hacia una recesión, impulsada por su programa económico. Pero, en público y en privado, ha estado argumentando que “una ligera perturbación” en la economía y los mercados es un pequeño precio a pagar por traer de vuelta a Estados Unidos los puestos de trabajo en la industria manufacturera.Sus socios políticos más cercanos están redoblando la estrategia. “La política económica del presidente Trump es sencilla”, escribió el vicepresidente JD Vance en las redes sociales el lunes. “Si inviertes y creas empleo en Estados Unidos, serás recompensado. Reduciremos las normativas y los impuestos. Pero si construyes fuera de Estados Unidos, estarás solo”.La última vez que Trump intentó algo así, durante su primer mandato, fue un fracaso. En 2018 impuso aranceles del 25 por ciento al acero y del 10 por ciento al aluminio, sosteniendo que estaba protegiendo la seguridad nacional de Estados Unidos y que, en última instancia, los aranceles crearían más puestos de trabajo en Estados Unidos. Los precios subieron y se produjo un aumento temporal de unos 5000 puestos de trabajo en todo el país. Durante la pandemia, se levantaron algunos de los aranceles, y hoy la industria emplea aproximadamente al mismo número de estadounidenses que entonces.Sin embargo, lo más preocupante fue la serie de estudios posteriores que demostraron que el país perdió decenas de miles de puestos de trabajo —más de 75.000, según un estudio— en las industrias que dependían de las importaciones de acero y aluminio. La producción por hora de los fabricantes de acero estadounidenses también había descendido, mientras que la productividad de la industria manufacturera en general en Estados Unidos aumentó.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      in US Politics

      EU retaliates against Trump tariffs with €26bn ‘countermeasures’

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      The EU has announced it will impose trade “countermeasures” on €26bn (£22bn) worth of US goods in retaliation after Donald Trump’s tariffs on steel and aluminium imports, escalating a global trade war.The president of the European Commission, Ursula von der Leyen, called the 25% US levies on global imports of the metals “unjustified trade restrictions”, after they came into force at 4am GMT on Wednesday.“We deeply regret this measure,” von der Leyen said in a statement, as Brussels announced it would be “launching a series of countermeasures” on 1 April. “The European Union must act to protect consumers and business,” she added.The commission said it would be targeting industrial products in response, including steel and aluminium, as well as household tools, plastics and wooden goods.In addition, the EU measures will affect some US agricultural products, such as poultry, beef, some seafood, nuts, eggs, dairy, sugar and vegetables, provided they are approved by member states.The retaliatory measures will also entail Brussels reimposing the tariffs on US goods including bourbon whiskey, jeans and Harley-Davidson motorbikes that it introduced during the first Trump term.“We will always remain open to negotiation. We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs,” von der Leyen said.France’s European affairs minister, Benjamin Haddad, said on Wednesday that the EU could “go further” in its response to the US tariffs. The measures “are proportionate”, Haddad told TF1 television. “If it came to a situation where we had to go further, digital services or intellectual property could be included,” he said.Britain would not issue its own immediate measures in response to the US tariffs but was going to “reserve our right to retaliate”, a UK minister said.The exchequer secretary to the Treasury, James Murray, told Times Radio the levies were disappointing but “we want to take a pragmatic approach, and we’re already negotiating rapidly toward an economic agreement with the US, with the potential to eliminate additional tariffs”.Asked by Sky News whether Britain’s response to the levies could be called weak in comparison with Brussels, Murray said the UK was in a “very different position than the EU” and does not want to be “pushed off course” as it pursues a trade deal with Washington.“We think the right response is to continue pragmatically, cool-headedly, without a knee-jerk response, but toward our economic agreement that we’re negotiating with the US to secure, because that’s in the best interests of the UK,” he said.skip past newsletter promotionafter newsletter promotionHis comments came after the prime minister, Keir Starmer, said on Tuesday that Britain would not respond with its own counter-tariffs, after last-ditch efforts to persuade Trump to spare British industry from his global tariffs appeared to have failed.The UK steel industry warned that Trump’s tariffs “couldn’t come at a worse time”, and said the move would have “hugely damaging consequences for UK suppliers and their customers in the US”.Gareth Stace, the director general of the trade association UK Steel, called the Trump administration’s move “hugely disappointing”. He said: “President Trump must surely recognise that the UK is an ally, not a foe. Our steel sector is not a threat to the US but a partner to key customers, sharing the same values and objectives in addressing global overcapacity and tackling unfair trade.“These tariffs couldn’t come at a worse time for the UK steel industry, as we battle with high energy costs and subdued demand at home, against an oversupplied and increasingly protectionist global landscape.”The introduction of EU measures came after a day of drama on Tuesday, when Trump threatened to double tariffs on Canadian steel and aluminium in response to Canadian threats to increase electricity prices for US customers.The US president backed off from those plans after the Ontario premier, Doug Ford, agreed to suspend his province’s decision to impose a 25% surcharge on electricity exports to the states of Minnesota, Michigan and New York. More

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      in US Politics

      Trump threatens to raise Canadian steel and aluminum tariffs to 50%

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      The looming trade war between the US and Canada escalated on Tuesday as Donald Trump threatened to double tariffs on Canadian steel and aluminum after Canadian threats to increase electricity prices for US customers.On Tuesday morning Trump announced plans to double tariffs on Canadian steel and aluminum from 25% to 50% and once again threatened to annex Canada as retaliation for the province of Ontario’s imposition of a 25% surcharge on electricity exports to several US states, in a dramatic escalation of the trade war between the two ostensibly allied countries.The news set off another stock market sell-off on Wall Street that was tempered when Ontario’s premier, Doug Ford, said he made a deal with the US commerce secretary, Howard Lutnick, to suspend Canada’s 25% tariff on exports of electricity to Michigan, New York and Minnesota after Lutnick agreed to discuss renewing existing trade relations.Incorrectly calling Canada “one of the highest tariffing nations anywhere in the world”, Trump said he had instructed his secretary of commerce to increase levies on the metals due to start Wednesday morning. He also threatened more tariffs on 2 April on the car industry that would “essentially, permanently shut down the automobile manufacturing business in Canada”.Asking rhetorically why the US received electricity from another country, he accused Canada of using energy, “that so affects the life of innocent people, as a bargaining chip and threat” and said “they will pay a financial price for this so big that it will be read about in History Books for many years to come”.After the news that Ontario was suspending its electricity hikes, Trump said he would “probably” reconsider imposing the higher tariffs on Canada.Mark Carney, Canada’s incoming prime minister, called Trump’s latest move “an attack on Canadian workers, families and businesses” and promised to “keep our tariffs on until the Americans show us respect and make credible, reliable commitments to free and fair trade”.The Trump administration was also reportedly preparing on Tuesday to institute a new rule that would require some Canadians staying in the US for more than 30 days to register personal information and agree to fingerprinting, according to Bloomberg. Currently there is largely frictionless travel for citizens between the two countries.The fractious economic battle between the US and Canada has developed even graver undertones as Trump makes increasingly aggressive threats for the US to absorb its northern neighbour. Although at first claiming that he wanted Canada to crack down on fentanyl, Trump has now accused the US ally of underpaying for military protection and incorrectly described the trade imbalance with Canada as a $200bn subsidy from the US.Trump coupled his tariff declaration with openly aggressive language about making Canada “our cherished Fifty First State”, repeating a constant refrain over the last few months. He claimed American statehood for Canada would make “all tariffs, and everything else, totally disappear”, called the border “an artificial line of separation drawn many years ago” and suggested the Canadian national anthem, O Canada, would become a state anthem.The rhetoric has inspired a rare unity among Canadian politicians, with Carney campaigning for Liberal leader on standing up to Trump, and saying to a standing ovation in his acceptance speech on Sunday that “Canada never, ever will be part of America”.Trump’s moves are just the latest in the chaos around the president’s trade policy, amid tumbling stock markets and fears it could trigger a possible US recession.The White House’s strategy so far has been to play down the anxiety on Wall Street, even as stocks waver. After Trump refused to rule out the possibility of a recession in an interview with Fox News over the weekend, the Nasdaq had its worst day on Monday since September 2022, dropping 4%.Shares in US automakers also fell after the announcement, as traders bet that high metal tariffs would drive up costs for the American industrial sector, eating into their profits. Ford Motor dropped nearly 4%, while General Motors dipped by 1.3%. Shares in the carmaker Stellantis – which has several manufacturing facilities in Canada – fell by more than 5%.Price premiums for aluminum on US physical market soared to a record high above $990 a metric ton, Reuters reported.The Ontario premier Ford has said that Trump must take the blame if there is a recession in the US, telling MSNBC on Tuesday: “If we go into a recession, it will be called the Trump recession.”Ford has said in the past that he would be willing to cut off US energy supply from Canada completely in response to Trump’s tariffs.“We will be relentless,” Ford said, adding he would not “hesitate” to shut off electricity exports to the US if Trump continues the trade war.“That’s the last thing I want to do. I want to send more electricity down to the US, to our closest allies or our best neighbors in the world. I want to send more electricity.” But, he said, “Is it a tool in our toolkit? One hundred per cent, and as he continues to hurt Canadian families, Ontario families, I won’t hesitate to do that.”Ford also encouraged American CEOs, who have been largely silent on the trade war and threats to Canadian sovereignty, to speak up. On Tuesday Trump is set to meet with the Business Roundtable, an influential group of business leaders that includes the CEOs of Google, Amazon and JPMorgan.Ford said: “We need those CEOs to actually get a backbone and stand in front of him and tell him, ‘This is going to be a disaster. It’s mass chaos right now.’”The group said in a statement last week that while it supported trade policies that “open markets to US exports, revitalize the domestic manufacturing base and de-risk supply chains”, it called on the White House to “preserve the benefits” of the US-Mexico-Canada Agreement (USMCA), which Trump himself signed in 2020 but has since apparently violated by suddenly imposing steep tariffs on both countries.Tariffs of 25% on steel and aluminum imports were already slated to apply to all countries globally on Wednesday, after Trump announced them last month.Both consumer and business confidence has dropped in the US since Trump entered office.A survey published on Monday in Chief Executive magazine found that CEOs’ rating of the current business climate fell 20% in January, from 6.3 out of 10 – with 1 being “poor” and 10 being “excellent” – to 5, the lowest since spring 2020.
      Meanwhile, consumer confidence measured by the Conference Board found that confidence dropped over 6% in February, its biggest month-to-month drop since August 2021.Trump had not yet spoken with Carney, said the White House press secretary Karoline Leavitt on Tuesday, arguing that the tariffs on Canadian metals “was a retaliatory statement due to the escalation of rhetoric that we’ve seen out of Ontario, Canada”.“I think Canada is a neighbor. They are a partner. They have always been an ally,” she said, adding: “Perhaps they are becoming a competitor now.” More

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      in US Politics

      Canada’s designated PM Mark Carney meets with Trudeau as Trump threat looms

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      Canada’s incoming prime minister, Mark Carney, has met with Justin Trudeau as the pair discuss a transfer of power after the former central banker’s landslide victory at the Liberal party’s leadership race.The meeting on Monday sets the stage for an imminent federal election and gives Canada a fresh leader to square off against the United States president, with the two countries locked in a bitter trade war provoked by Donald Trump.Briefly speaking to reporters, Carney said he was “honoured” to receive nearly 86% of the vote, one of the most decisive wins of a party leader in decades.But, the 59-year-old former banker said he had “a lot of wood to chop” as he prepares to assume the reins of a country tearing on the verge of economic calamity.Carney is widely expected to call an election within days, reflecting both the urgency of Canada’s trade war with the United States, and the awkward reality that as prime minister without a seat in parliament, he is unable to attend sessions of the House of Commons.First, however, Trudeau must visit the governor general – the largely ceremonial representative of King Charles – and officially tender his resignation. Carney will then swear oaths of office and allegiance and form a cabinet. This is expected to happen in the coming days.After his meeting with Trudeau, Carney said the transition “will be seamless and it will be quick.’Under Canadian law, an election period must be at least 37 days and no more than 51 days, with the vote falling on a Monday. Party insiders have indicated Canadians will probably vote on 28 April or 5 May.The former governor of the Bank of England and of Canada takes the job of prime minister as Ottawa finds itself at odds with its closest ally and largest trading partner. Last week Trump announced a 25% tax on all Canadian goods, with a carve-out for the automotive and energy sectors. The tariffs have the power to push Canada’s fragile economy into a recession.Carney spent much of his acceptance speech on Sunday evening foreshadowing the theme that will probably define his tenure as prime minister: conflict with the volatile and unpredictable president who has threatened repeatedly to annex Canada.“America is not Canada. And Canada never, ever, will be part of America in any way, shape or form,” Carney told supporters. “We didn’t ask for this fight. But Canadians are always ready when someone else drops the gloves,” Carney said. “So the Americans, they should make no mistake, in trade as in hockey, Canada will win.While the Liberals trail slightly in the polls, Carney’s ascension within the party, and Trudeau’s exit, has dramatically revived their chances of eking out a victory in the next election – a result that was widely seen as unthinkable just weeks ago.Carney, a political novice who has never held elected office, also criticised his main political rival: the Conservative leader, Pierre Poilievre.“Donald Trump thinks he can weaken us with his plan to divide and conquer. Pierre Poilievre’s plan will leave us divided and ready to be conquered,” Carney said. “Because a person who worships at the altar of Donald Trump will kneel before him, not stand up to him.”Carney also suggested Poilievre’s partisan nature was a liability in the existential fight for Canada’s future. “His anger isn’t action. His division isn’t strength. Division won’t win a trade war,” he said.Earlier that evening, Poilievre accused Carney of being “sneaky” at a Sunday evening rally in London, Ontario.“And now our Liberal friends, after they’ve caused all this damage, are going to pull a sneaky trick. They’re going to try to get elected for a fourth term. A fourth term by replacing Justin Trudeau with his economic adviser, Mark Carney,” he said. “Carney’s advice drove up taxes, housing costs and food prices, while he personally profited from moving billions of dollars and thousands of jobs out of Canada to the United States.”Carney’s dominant win outshone most expectations and provides the leader with both a strong mandate and a unified party. He won in all 343 of the Liberal party districts. His closest rival, the former finance minister Chrystia Freeland finished a distant second with only 8% of the vote, and was unable to win the most votes in her own district. More

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      in Elections

      Mark Carney será el primer ministro de Canadá

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      Mark Carney, exgobernador del banco central canadiense, encabeza ahora el Partido Liberal y pronto dirigirá CanadáMark Carney, exgobernador del banco central canadiense, consiguió el liderazgo del Partido Liberal de Canadá el domingo y se convertirá en primer ministro en un momento crítico para el país, que se enfrenta a amenazas a su economía y soberanía por parte del presidente de Estados Unidos, Donald Trump.Carney, quien nunca había sido elegido para un cargo público, fue gobernador del Banco de Canadá durante la crisis financiera mundial de 2008 y gobernador del Banco de Inglaterra durante el Brexit. También fue un banquero de éxito en el sector privado, amasando una importante fortuna personal.Dominó la carrera por el liderazgo de los liberales, asegurándose una victoria decisiva. Pero como el partido no tiene mayoría en el Parlamento, Carney pronto tendrá que convocar elecciones generales, en las que los liberales se enfrentarán al Partido Conservador, dirigido por Pierre Poilievre.La elección de Carney marca el final del mandato de una década de Justin Trudeau como primer ministro. La popularidad de Trudeau se había deteriorado, ya que muchos lo culpaban del oneroso costo de la vida en Canadá, del aumento de los precios de la vivienda, de la sobrecarga del sistema de salud y de otros problemas.Esto es lo que hay que saber:Las amenazas de Trump se ciernen sobre élCarney ve “días oscuros”Trudeau se despide emocionadoLas elecciones se han transformadoWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      in US Politics

      America vetoes G7 proposal to combat Russia’s shadow fleet of oil tankers

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      The US has rejected a Canadian proposal to establish a task force that would tackle Russia’s so-called “shadow fleet” of oil tankers, according to reports last night.Canada, which has the current Group of Seven presidency, proposed the measure ahead of a meeting of G7 foreign ministers in Quebec later this week.In negotiations to agree a joint statement on maritime issues, the US is pushing to strengthen language about China while watering down wording on Russia, the reports said.The “shadow fleet” refers to ageing oil tankers, the identities of which are hidden to help circumvent western economic sanctions imposed on Moscow since it launched its full-scale military invasion of Ukraine at the start of 2022.As well as vetoing Canada’s proposal to establish a task force to monitor sanctions breaches, the draft G7 statement seen by Bloomberg News shows the US pushed to remove the word “sanctions” as well as wording citing Russia’s “ability to maintain its war” in Ukraine by replacing it with “earn revenue”.G7 communiqués are not final until they are published through consensus. Further talks could still result in changes to the end-of-summit statement.US diplomats briefed their G7 counterparts that the move was because of Washington’s “re-evaluation of its position in multilateral organisations, rendering it unable to join any new initiatives”, according to the Bloomberg report.European countries are discussing plans that will let them carry out seizures of Moscow’s oil-exporting tankers in the Baltic Sea.The proposals include using international law to allow them to take control of vessels on environmental or piracy grounds. More