EU and Canada Respond to the US tariffs on Aluminum and Steel, Plus Bank of Canada Cuts Interest Rates

March 12, 2025

The European Union announced retaliatory tariffs against the US imposing a 25% import tariff on aluminum and steel, focusing on U.S. industrial and farm products valued at 26billion euros.

Products such as

steel and aluminum products
textiles
home appliances
agricultural goods
beef
poultry
motorcycles
bourbon
peanut butter and
jeans

More information can be found here: https://globalnews.ca/news/11077997/donald-trump-tariffs-eu-response/

Canada is also retaliating against the 25% steel and aluminum tariff, announcing today that tariffs will be imposed against $29.8 billion worth of American goods. More details will be shared regarding the list of impacted items.

https://www.cbc.ca/news/politics/canada-retaliatory-tariffs-1.7481258

Additionally, the Bank of Canada cut interest rates today by 25 basis points to 2.75% due to the current trade war between Canada and the U.S..

https://www.cbc.ca/news/business/bank-of-canada-march-12-2025-1.7481284

Topic(s)

Hot topics

U.S. Tariffs and Canadian Retaliatory Surtax

Security and Trade Facilitation Programs

International Trade and Border Management

Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

What Our Community Says

“CSCB education gave me specialized, industry-recognized knowledge and practical skills that not only helped prepare me for the CBSA professional exam but also set me apart as a confident and capable customs professional.”

– Sabrina, a CCS and CTCS Designate

“I would strongly recommend [the CCS course]. It is a valuable investment in one’s professional development, providing practical, industry-relevant knowledge while strengthening credibility. The program also equips individuals with the skills and confidence needed to navigate real-world challenges and make informed decisions in the field.”

– Sabrina, a CCS and CTCS Designate

“Achieving this designation has strengthened my professional credibility and demonstrated my commitment to continuous learning. Employers and colleagues view me as more knowledgeable and dependable in customs and trade-related matters.”

– Sabrina, a CCS and CTCS Designate

“The course content was highly relevant, practical, and closely aligned with real-world customs processes. It struck an effective balance between theory and application, making it easy to apply what I learned to my day-to-day responsibilities.”

– Sabrina, a CCS and CTCS Designate

“I recognized that many organizations value professional designations, and I wanted to remain competitive while aligning myself with industry standards. Pursuing this designation also helped me prepare for the Canada Border Services Agency professional exam, further strengthening my readiness for advancement within the field.”

– Sabrina, a CCS and CTCS Designate

“[I would recommend the CCS course] it gives a great framework and covers board topics. It is very helpful to people entering the field.”

– Kwan, a CCS course graduate

“I was able to complete the CBSA professional exam with the knowledge from the CSCB training.”

– Kwan, a CCS course graduate

“All modules [in the CCS course] are insightful, I appreciate all the calculation module with the complication of duties, taxes and surtax that was covered.”

– Kwan, a CCS course graduate

“Maintaining my CCS and CTCS designations demonstrate to employers that despite working within Education for the past 15 years, I am still up to date with the current requirements and changes within the customs industry.”

– Donna, a CCS and CTCS Designate

“The CCS program is well presented and relevant for today’s workforce. It provides the key education required for entry-level employees... The breadth of the information is valuable – from cargo requirements to Incoterms to SIMA to basic tariff classification - it introduces individuals to all the key requirements to get started in a role.”

– Donna, a CCS and CTCS Designate