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Originally Posted by welfare
Doesn't Canada have way more to lose tho?
Canada sends 90% of its steel to US. But couldn't US just about be self sufficient on steel and aluminum?
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Not sure about steel, but from this article, it says for aluminum, it hurts the US more than Canada.
Canadian aluminum shows its mettle in face of Trump's tariff | CBC News
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In fact, the top U.S. aluminum industry consultant says the tariff has, so far, actually enriched Canadian aluminum producers. That's because they responded to the announcement in March by factoring the tariff into their prices, and then essentially pocketed that 10 per cent surcharge during the two months that Canada enjoyed a tariff exemption.
"Trump wrote a cheque for $600 million to Canadian aluminum producers," said Jorge Vasquez of Harbor Aluminum in Austin, Tex., who has served as an adviser to both the U.S. International Trade Commission and the Canadian Trade Tribunal.
In effect, Trump's actions transferred more than half a billion dollars from the U.S. economy to Canada's since March.
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1 smelter in Quebec produces almost as much as the entire aluminum production in the US, so I don't think they can just ramp up production to make up for what Canada exports to them.