Economy

CSPA asks Canadian government to work against potential tariffs
Written by Ethan Bernard
January 30, 2025
The Canadian Steel Producers Association (CSPA) has urged Canada to engage with the US administration to avoid the tariffs threatened by the Trump administration by Feb. 1.
“The imposition of tariffs on Canadian goods will have an incredibly disruptive impact on our integrated North American supply chains and on our workers and their families,” François Desmarais, CSPA VP of trade and industry affairs, said in a statement to SMU on Thursday.
He affirmed that CSPA urges the “government of Canada to engage the US administration and to address their concerns to avoid the imposition of tariffs on our sector or the broader Canadian economy.”
Recall that President Trump has said he could impose 25% tariffs on both USMCA partners, Canada and Mexico, by Feb. 1.
Desmarais noted that CSPA is monitoring closely any type of announcement that could come on the first of next month, which is Saturday.
Additionally, he stressed a unity position. “The Canadian and American steel industries benefit greatly from joint actions against unfair trade practices and alignment of policies.”

Ethan Bernard
Read more from Ethan BernardLatest in Economy

Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)

Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.

Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.

New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey

Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.