Algoma Steel
ASTL5.7850.43% ( -0.025 )
Trading: Nov 10, 15:17:55 (EDT)The US dollar against the Canadian dollar rose by 0.2%, as Canada considers raising tariffs to protect the steel and aluminum industries
Wallstreetcn·- On Thursday, the USD/CAD exchange rate increased by 0.2%, as Canada announced potential tariff hikes on U.S. steel and aluminum products if trade negotiations with the Trump administration stall by July 21. - The Canadian government plans to adjust retaliatory tariffs and introduce new regulations for federal projects to use only Canadian or "reliable trade partner" steel and aluminum. - Prime Minister Carney emphasized the need to protect Canadian workers from unfair U.S. tariffs while continuing negotiations, stating that true free trade benefits both nations.