TUMBLER RIDGE - President Donald Trump says he’ll announce Monday the United States will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties later in the week.
Trump also reaffirms he’ll announce ``reciprocal tariffs.‘’ That means the U.S. would impose import duties on products in cases in which another country has levied duties on U.S. goods.
From a local standpoint, Conuma Resources said that the immediate impact on tariffs is not a great concern.
Conuma mines coal in the Peace Region for the purpose of making steel. CEO Brian Sullivan said the company doesn’t sell coal directly to the United States.
Sullivan said, the concern going forward is if the price of steel and aluminum goes up on a global basis.
Along with the concern about inflationary costs Sullvan said, “during periods of uncertainty, you can’t predict the unintended consequences of a move like this.”
“Where we will feel it is with the purchase a large-scale mining equipment, if Canada retaliates with tariffs of our own,” said Sullivan
Conuma exports to Japan, Korea, China, India, Europe and Brazil.