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Canada to Announce Response to U.S. Steel and Aluminum Tariffs

The Canadian government is set to unveil its response to the United States' recent imposition of 25% tariffs on steel and aluminum imports. Finance Minister Dominic LeBlanc, Foreign Affairs Minister Mélanie Joly, and Industry Minister François-Philippe Champagne will address the nation in a press conference on Parliament Hill this morning. The tariffs, which came into effect at midnight, mark a significant escalation in trade tensions between the two countries. The U.S. administration, under President Donald Trump, has justified the move as part of its broader strategy to realign global trade. In retaliation, Canada has already imposed counter-tariffs on $30 billion worth of U.S. goods and is expected to announce further measures to protect Canadian industries and workers. The response is anticipated to focus on minimizing the impact on Canadian businesses while ensuring a strong message is sent to the U.S. about the importance of fair trade practices. The announcement comes amid o...
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Red Sea Shipping Crisis Worsens After US and UK Strike Yemen

 

The Red Sea, a vital waterway for global trade, has become a hotspot of conflict and insecurity after the US and UK launched airstrikes against Houthi rebels in Yemen, who have been attacking commercial vessels with missiles and drones.

The airstrikes, which began on Thursday, were a response to the 27th Houthi attack on shipping since November, according to the US military. The Houthis, who are backed by Iran, have been targeting ships in the southern Red Sea and the Bab al-Mandab Strait, a narrow passage that connects the Red Sea to the Gulf of Aden.

The escalation of violence has disrupted the flow of oil, gas, grains, and manufactured goods through the region, which accounts for about 12% of global seaborne trade. Many shipping companies have suspended or diverted their operations, opting for the longer and more costly route around Africa. Some insurers have also raised their premiums or restricted their coverage for vessels passing through the area.

The shipping crisis has added to the humanitarian catastrophe in Yemen, where a civil war has been raging since 2015. The UN estimates that more than 20 million people are in need of humanitarian assistance, and that millions are on the brink of famine. The airstrikes have also raised fears of a wider regional conflict, as Iran and its allies clash with the US and its allies over various issues, including the nuclear deal and Israel’s war in Gaza.

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