In this edition:
- Canada hits U.S. with dollar-for-dollar retaliation for steel and aluminum tariffs
- Bank of Canada cuts interest rate to 2.75%
- Thorold South battery-processing plant expanding
- NC-developed Mazagran Coffee perks up Niagara beverage scene
- Charities and community groups can apply for Niagara River Lions tickets
- Focus on International Trade
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Picture credit: littlewolf1989 / Adobe Stock
Canada hits U.S. with dollar-for-dollar retaliation for Trump’s steel and aluminum tariffs
Canada is levelling reciprocal dollar-for-dollar tariffs on U.S. steel and aluminum imports, in response to U.S. President Donald Trump’s 25 per cent tariffs on all steel and aluminum imports that came into effect today.
The federal government’s countermeasures will come into effect at 12:01 a.m. on March 13. The 25 per cent tariffs will hit steel products worth $12.6 billion and aluminum products worth $3 billion.
Photo credit: Bank of Canada
Bank of Canada cuts interest rate to 2.75%
Bank of Canada Governor Tiff Macklem said that while Canada’s economy ended 2024 “in good shape” with inflation nearing a two per cent target, ongoing tariff threats by U.S. President Donald Trump impacted business and consumer confidence.
Photo credit: HOPA Ports
Thorold South battery-processing plant expanding
EVSX Corporation, a wholly-owned subsidiary of St-Georges Eco-Mining Corp., has announced the installation of a new multi-chemistry line in its Thorold facility, now approved to process additional battery chemistries, including lithium-ion.
With this new line, EVSX’s facility can handle a broader range of battery chemistries, significantly improving recycling capacity and efficiency.
NC Student Research Assistants Liliana Miranda Gomez and Chevell Clarke work on optimizing flavours for coffee-containing beverages at the Food and Beverage Innovation Centre. | Picture credit: Niagara College / supplied
NC-developed Mazagran Coffee perks up Niagara beverage scene
Thanks to Niagara College’s Research and Innovation division, St. Catharines-based Dispatch has turned an in-demand beverage into a commercial product with expanding reach.
Dispatch’s coffee lemonade ‘Mazagran Coffee’ is now popping up in cans at various locations in the Niagara region and beyond.
Picture credit: City of St. Catharines / supplied
Charities and community groups can apply for Niagara River Lions tickets
The City of St. Catharines is offering tickets for Niagara River Lions home games at the Meridian Centre to local non-profit organizations and sports organizations.
The City invites registered charities, incorporated non-profit groups, and minor not-for-profit sports associations serving St. Catharines to apply to the Meridian Centre Community Use Program to request 12 tickets to select River Lions home games.
Focus on International Trade
Canada’s aluminum industry faces U.S. tariffs, but innovation could open new markets
The United States government’s decision to impose a 25 per cent tariff on aluminum imports from Canada has raised serious concerns about potential job losses in the aluminum industry.
With more than 90 per cent of Canada’s aluminum exports going to the U.S. — a market of $16.7 billion — the new tariff threatens to disrupt a critical trade relationship.
Almost 30 per cent of Canadian aluminum ends up being used as a durable, lightweight material in the automotive and transportation sector, which is itself under strain due to shifting U.S. trade policies.
In the face of this trade insecurity and a growing demand for green energy, a recent Canadian innovation that uses aluminum as a fuel could provide new opportunities for growth and diversification.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
