• Canada will adjust counter-tariffs on US steel and aluminum if no trade deal is reached in 30 days.
• Prime Minister Mark Carney announced procurement rules favoring domestic suppliers.
• The US recently increased tariffs on Canadian metals to 50 percent.
• Negotiations between Canada and the US have been described as "intensive."
• New federal programs will support the Canadian steel industry.

Canada will "adjust" its counter-tariffs on US steel and aluminum products if a trade agreement is not finalized within 30 days, according to Prime Minister Mark Carney. The adjustment will occur on July 21, aligning countermeasures with the progress made in ongoing trade talks with Washington. This announcement follows the US's decision to double tariffs on imported Canadian metals to 50 percent, which Carney condemned as "unjustified" and "illegal," reports SCMP, Channel News Asia, and India Times.

To support its steel and aluminum sectors, Canada will implement new procurement rules that prioritize Canadian suppliers for federal contracts and establish tariff rate quotas for imports from countries with trade agreements. Carney emphasized that these measures aim to bolster the Canadian industry and mitigate the effects of US tariffs. "We must reinforce our strength at home and safeguard Canadian workers and businesses," Carney noted, highlighting the government's commitment to domestic industries, according to Channel News Asia and AA.

The discussions surrounding this trade issue are viewed as critical, with both nations engaging in "intensive discussions" to stabilize their trading relationship. Carney stressed that a successful outcome would not only secure Canadian access to US markets but also maintain autonomy in global trade dealings. The ongoing negotiations signal the possibility of reaching a trade deal within 30 days, which could significantly affect the tariffs currently imposed, according to SCMP, AA, and India Times.