{"id":351621,"date":"2025-11-03T02:17:10","date_gmt":"2025-11-03T02:17:10","guid":{"rendered":"https:\/\/www.europesays.com\/us\/351621\/"},"modified":"2025-11-03T02:17:10","modified_gmt":"2025-11-03T02:17:10","slug":"u-s-treasury-secretary-refuses-to-rule-out-additional-tariffs-on-canada-fueling-trade-war-uncertainty","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/351621\/","title":{"rendered":"U.S. Treasury Secretary refuses to rule out additional tariffs on Canada, fueling trade war uncertainty"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

U.S. President Donald Trump with Treasury Secretary Scott Bessent at the Gyeongju National Museum in Gyeongju, South Korea on Oct. 29, 2025. On CNN on Sunday, Bessent refuses to rule out additional tariffs on Canada.Mark Schiefelbein\/The Associated Press<\/p>\n

U.S. Treasury Secretary Scott Bessent signalled on Sunday that the Trump administration is still considering imposing an additional tariff on Canadian imports, creating more uncertainty in a trade war that is wreaking havoc on Canada\u2019s steel, aluminum, automobile and lumber sectors.<\/p>\n

In an appearance on CNN on Sunday, Mr. Bessent<\/a> was asked whether U.S. President Donald Trump was going to follow through on his threat to bring in an additional 10-per-cent tariff in retaliation for an anti-tariff TV ad commissioned by the Ontario government.<\/p>\n

\u201cWe\u2019ll see,\u201d he responded. <\/p>\n

\u201cI do think it was a big setback for the Canadian government and the Premier of Ontario should be ashamed.\u201d<\/p>\n

Mr. Trump broke off trade talks with Canada on Oct. 23, citing the ad, and later threatened to impose the new tariff.<\/p>\n

Explainer: What you need to know about Ontario\u2019s anti-tariff ad<\/a><\/p>\n

The Government of Ontario released this TV ad that uses a recording of Ronald Reagan to argue against tariffs.<\/p>\n

Government of Ontario<\/p>\n

Mr. Trump has not yet issued any executive order to enforce the threatened 10-per-cent hike<\/a>. It\u2019s not clear if this new levy would apply to all Canadian imports or a selection of them. And he has announced no date for this increase.<\/p>\n

Ontario\u2019s television ad campaign in the U.S. featured 1987 footage of then-president Ronald Reagan, a Republican, criticizing trade wars as making little business sense. <\/p>\n

Mr. Bessent called the Ontario-funded ad campaign \u201cunacceptable,\u201d and he accused Ontario Premier Doug Ford of \u201csending propaganda across the U.S. border via our own airwaves.\u201d He compared it with interfering with an election. <\/p>\n

\u201cNobody likes foreign election interference, he said. \u201dNobody likes foreign governments trying to sway public opinion for their own good.\u201d <\/p>\n

Mr. Trump, in cancelling trade talks, accused Ontario of misleading the American people by leaving out parts of Mr. Reagan\u2019s address in which he justified imposing tariffs on Japan.<\/p>\n

Open this photo in gallery:<\/a><\/p>\n

The U.S. and Canada flags at the border crossing in Point Edward, Ont. Trump said he will imposed an extra 10-per-cent tariff on Canadian imports because of an anti-tariff advertisement form Ontario.GEOFF ROBINS\/AFP\/Getty Images<\/p>\n

Prime Minister Mark Carney<\/a> said on Saturday that he had advised Mr. Ford not to run the TV ad.<\/p>\n

Speaking to reporters at the Asia-Pacific Economic Cooperation summit, Mr. Carney also confirmed he had apologized to Mr. Trump<\/a> for the advertisement. <\/p>\n

He said the apology was conveyed to the U.S. President Wednesday evening when the pair and other leaders attended a dinner<\/a> hosted by South Korean President Lee Jae Myung. The meal was in Mr. Trump\u2019s honour.<\/p>\n

Before the ad ran, there was hope that a deal between Canada and the U.S. on tariffs<\/a> might be unveiled at the APEC summit.<\/p>\n

In Detroit, where sympathy for Canada runs high, residents are divided on Reagan anti-tariff ad<\/a><\/p>\n

Canada\u2019s steel and aluminum sectors are currently dealing with the worst of Mr. Trump\u2019s tariffs, with a 50-per-cent levy that came into effect in June, up from the original 25 per cent imposed in March. A large swath of Canada\u2019s auto sector is subject to 25-per-cent U.S. tariffs, while softwood producers are facing levies of more than 45 per cent.<\/p>\n

If Mr. Trump raises tariffs on the steel sector, Jim Ritchie, owner of Vancouver-based metals distribution company Cascadia Metals Ltd., said it would be \u201cvery bad news\u201d for any Canadian mill still sending metal to the U.S. <\/p>\n

Last week, Algoma Steel Group Inc. ASTL-T<\/a>, Canada\u2019s last remaining independent steelmaker, reported a $485.1-million loss in the third quarter, incurring almost $90-million in tariff costs and taking a writedown of more than $500-million. <\/p>\n

Mr. Ritchie isn\u2019t convinced Mr. Trump will actually increase tariffs on Canada, pointing out that while some of the President\u2019s threats have come into fruition, many have not.<\/p>\n

Tony Keller: Is Doug Ford\u2019s TV ad to blame for Donald Trump\u2019s tariff tantrum? Be serious<\/a><\/p>\n

\u201cThe on-again, off-again punishment of Canada, I don\u2019t want to just brush it off,\u201d Mr. Ritchie said. \u201cBut I think that we\u2019re kind of used to it now.\u201d<\/p>\n

Giles Gherson, chief executive officer of the Toronto Region Board of Trade, said the continuing uncertainty of an unresolved trade war is causing many Canadian businesses to delay making new investments in plants, machinery and equipment.<\/p>\n

\u201cThis is actually a time when we want to see Canadian companies expanding, modernizing, investing in the most up-to-date production technologies, so they can be competitive both in Canada and globally,\u201d he said. \u201cBut who\u2019s going to invest in new equipment and technology if their market is shrinking in front of them?\u201d<\/p>\n

With a report from Steven Chase in Gyeongju, South Korea<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: U.S. President Donald Trump with Treasury Secretary Scott Bessent at the Gyeongju National…\n","protected":false},"author":3,"featured_media":351622,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[172095,2147,50],"class_list":{"0":"post-351621","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-astl-t","9":"tag-canada","10":"tag-news"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115483367522813304","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/351621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=351621"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/351621\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/351622"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=351621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=351621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=351621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}