United States President Donald Trump is targeting foreign metals, threatening to impose a 25 per cent tariff on steel.
The move could have a major impact on Saskatchewan’s economy. Steel and aluminum are used to manufacture anything from cars to cans. More than 1,000 people are employed by the steel industry in Regina.
Mike Day, president of the local United Steel Workers 5890 Union, says Trump’s announcement should be concerning for everyone in the Queen City, not just people working in the steel industry.
“Whether it’s contractors, local businesses, restaurants, auto sales, anything else like that, it’s tough. It could have a huge impact,” Day said.
The tariff won’t just impact jobs, but the economy as a whole.
“That will have the same kind of impact in terms of people shopping less, less money in the economy,” said Regina and District Chamber of Commerce CEO John Hopkins. “Hopefully, it doesn’t come to that. But, those are the kind of things you start to see with trade wars.”
The federal government is also concerned. Prime Minister Justin Trudeau called the tariffs unacceptable. He said he’s worried they could affect jobs across the country.
“Whenever there is a tariff that affects a viable, legitimate Canadian export, we take that with great seriousness,” federal MP Ralph Goodale said.
Trump is known for taking a hard line on trade, but he’s also known for changing his mind. Additional details about the tariffs are expected next week.
Based on a report by CTV Regina's Taylor Rattray
