Thursday, March 8th, 2018: At 3:30 PM (ET), President Donald Trump signed an executive order, putting into place global tariffs of 25% on Steel and 10% on Aluminum Imports. These Tariffs were the outcome of a Section 232 of the US Trade Act investigation initiated by President Trump last year.
We were pleased to hear that Canada and Mexico were both given indefinite exemptions from the Tariffs, as stated by President Trump: “We’re going to hold off the tariff on those two countries to see whether or not we’re able to make a deal on NAFTA,” Mr.
An Important Message on Proposed Steel Tariffs
Over the last three years, we have been working with our colleagues in the Canadian Chamber of Commerce network and the Canadian Steel Producers Association to address unfair market practices and steel being dumped into Canada by non-market producers.
The steel industry is the backbone of the Hamilton economy, supporting almost 10,000 direct and over 30,000 indirect jobs in our community.
On February 27th, the Liberal Government released their 2018 Federal Budget. See below for a summary (courtesy of the Canadian Chamber of Commerce) on the impacts it will have on Canadian businesses.
Tax Treatment of Passive Investment Income
Last year’s proposals by the Finance Department had caused significant concerns amongst the business community.
Regional Leaders to Gather in Hamilton-Burlington on June 26 to Help Drive Advanced Manufacturing Supercluster and Other Shared Priorities
HAMILTON February 22, 2018: Canada’s Innovation Corridor Business Council, a partnership of leading chambers of commerce and boards of trade in the Greater Golden Horseshoe, today announced a bold new summit to promote global competitiveness through regional connectivity and collaboration.
February 21st, 2018: The Government of Ontario is proposing The Fairness in Procurement Act, 2018, would, if passed, allow Ontario to take responsive and proportional action to discriminatory government procurement practices by U.S. subnational jurisdictions.
Buy American policies in the U.S. at the state level could restrict or inhibit Ontario-based businesses from participating or succeeding in certain state government procurement contracts.
February 20th, 2018, Hamilton, ON: The Hamilton Chamber of Commerce is concerned about the implications of the United States Department of Commerce’s recommendations to President Trump, under a NAFTA Section 232 investigation requested by President Trump in April 2017, concerning the Steel and Aluminum Industries. The law allows the president to unilaterally impose Tariff taxes and other restrictions on imports for reasons of national security, breaking from any existing trade protocols under NAFTA or World Trade Organization.
Regional Benefits will Extend to Hamilton and its Business Community
Ottawa, ON, Thursday, February 15, 2018 — Navdeep Bains, Canada’s Minister for Innovation, Science and Economic Development, announced today that a strategy to build an Advanced Manufacturing Supercluster for Canada has qualified for federal investments under the Government of Canada’s Innovation Superclusters Initiative.
Lean Manufacturing Set the Stage for Interconnected Systems
There was a large turnout of industry professionals for the February 7 breakfast event organized by the Golden Horseshoe Manufacturing Network and held at TechPlace in Burlington. This event aligns with the Hamilton Chamber’s focus on promoting manufacturing as a mainstay of local economic development.