early reporting suggests tariffs <\/a>on Canadian steel will be reduced to 25 per cent.<\/p>\nReached by phone today, Mayor Matthew Shoemaker said he hopes the federal government continues pressing for additional relief when it comes to steel tariffs.<\/p>\n
“It’s definitely a step in the right direction, but I don’t think that it gets us to a point where we can be sure of the sustainability of the industry in Canada,”\u00a0Shoemaker said.\u00a0<\/p>\n
“If the rumours are true that the 50-per-cent\u00a0tariff is going to be replaced with a 25-per-cent\u00a0tariff, it really is a validation, frankly, and a victory for the American negotiating strategy because we were pulling booze off the shelves at 25 per cent.”<\/p>\n
Shoemaker said a 25-per-cent steel tariff as an end goal for Canada does not sit well with him.<\/p>\n
He said when steel tariffs were at 25 per cent, it meant Algoma Steel was losing an estimated $1 million per day.<\/p>\n
“The federal and provincial governments extended liquidity support for [Algoma Steel] and those types of supports are going to need to continue if we accept a 25-per-cent\u00a0tariff, because there will be a concern over the continued viability of the mill at that rate,” said Shoemaker.<\/p>\n
He said he hopes the 25 per cent figure that is being floated around\u00a0is an interim number.<\/p>\n
“At 25 per cent\u00a0we’re going to be advocating extremely strongly to the federal government that this cannot be the final outcome of a negotiation,” said Shoemaker.<\/p>\n
He said the relationship between Sault Ste. Marie, Ont. and its neighbour across the St. Marys River remains strong.<\/p>\n
“They have advocated to the American federal government for a return to normal relationships, and that is as much as we can ask for,” Shoemaker said.<\/p>\n
This week U.S. President Donald Trump said he would delay his new tariffs on Canada for three days.<\/p>\n
“I have paused the 50% Tariffs against Canada, that were scheduled to kick in tomorrow morning for a three-day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!” Trump said in the post.<\/p>\n
\u2014 with files from The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"‘We were pulling booze off the shelves at 25 per cent,’ Mayor Matthew Shoemaker said Sault Ste. Marie’s…\n","protected":false},"author":2,"featured_media":866742,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,301130],"class_list":["post-866741","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-donald-trumpmatthew-shoemakeralgoma-steelsteel-tariffs"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/866741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=866741"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/866741\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/866742"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=866741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=866741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=866741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}