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Canada's relationship with the U.S. has frayed amid Trump's tariff-heavy agenda and vocal displeasure with the nations' trilateral trade pact with Mexico. View More
US President Donald Trump speaks after signing an executive order to drastically shrink two national monuments in Utah, paving the way for fossil fuel extraction and mining. Saul Loeb | AFP | Getty Images The U.S. is imposing additional 50% tariffs on a range of Canadian goods in response to alleged trade discrimination against multiple U.S. products and industries, senior Trump administration officials said Monday.President Donald Trump signed three proclamations Monday targeting different sets of Canadian imports with the steep tariffs in response to separate areas â motor vehicles, alcohol and dairy â where the U.S. says it has been treated unfairly, the officials said in a call with reporters.The tariffs, which fall under the rarely used Section 338 of the Tariff Act of 1930, are set to take effect 30 days after the signings, according to the officials.Each proclamation slaps tariffs on different Canadian products, "ranging from wine to hockey sticks to cement," an official on the call said.The new tariffs "apply to all covered goods," regardless of whether they are otherwise covered under the existing free trade agreement between the U.S. and Canada, the official said."Canada has to be held accountable for this continued discrimination," the official said.Ontario Premier Doug Ford said on X later Monday afternoon that Canada "should respond tariff for tariff, dollar for dollar" if the new U.S. import duties proceed.The Canadian Embassy in Washington, did not immediately respond to CNBC's request for comment on the new U.S. trade actions. Read more CNBC politics coverageTrump imposing 50% tariffs on certain Canadian goods over alleged trade discriminationTrump says Netanyahu won't be arrested in New York, pushing back on MamdaniSen. Darline Graham running for full term to replace late brother Lindsey Graham Canada's status as the U.S.'s long-time close ally and trade partner has eroded amid Trump's tariff-heavy agenda and vocal displeasure with the nations' trilateral trade pact including Mexico, among other sources of tension.The U.S. and Canada engaged in escalating trade fight last year, as Trump slapped heavy tariffs on Canadian goods and Ottawa retaliated.Earlier this month, the Trump administration said it would not renew that trade agreement, known as USMCA, opting instead to cast a shadow over the treaty's future by triggering a series of annual reviews. Last week, Trump tore into Canada over the wildfires blazing through northwestern Ontario, which led to major air pollution issues across large areas of the U.S. mainland.Claiming the issue has harmed the U.S. to the tune of billions of dollars, Trump wrote on Truth Social that those costs "must of necessity be added to the TARIFFS Canada is currently paying."One of the senior officials on Monday specified that the newly announced 50% tariffs on Canadian goods are not related to the wildfires â but added that Trump "has asked for options on that."Section 338 gives the president the power to impose tariffs of up to 50% on the goods of countries found to be discriminating against the U.S.The obscure tariff-setting authority has "gone unused for decades," John Veroneau and Catherine Gibson of law firm Covington and Burling LLP wrote in a 2016 article. They found no public record relating to Section 338 since 1949. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Revenue grows 16% to ?24,648 crore; India Cements swings to profit, while UltraTech crosses 200 MTPA domestic capacity milestone View More
In Q1FY27, UltraTech Cement's net profit surged 16.77% year-on-year to ?2,599.28 crore, driven by operational efficiencies and market execution. Revenue grew 15.8% to ?24,648 crore, while capacity utilisation stood at 81%, indicating strong demand in the construction sector. View More
The report said the capex trajectory, which remained subdued during FY25 and FY26, has shown improvement in the first two months of FY27, supported by higher public spending across different levels of government View More
Andhra Pradesh IT Minister Nara Lokesh laid the foundation for Dalmia Bharat's new cement unit. This Rs 3,100-crore facility will be the company's largest in South India. The green cement unit is expected to be commissioned by the third quarter of 2027-28. It will operate on over eighty percent renewable power and recycle all its water. This significant project will also create one thousand new employment opportunities. View More
Kadapa: Andhra Pradesh IT Minister Nara Lokesh on Wednesday laid the foundation for Dalmia Bharat 's Rs 3,100-crore second cement manufacturing unit here. Designed to produce green cement, the new unit, expected to be commissioned by the third quarter in 2027-28, will become the company's largest integrated manufacturing facility in South India with a clinker capacity of 6.1 MTPA and cement manufacturing capacity of 9.6 MTPA. Also Read: Nuvoco Vistas starts Limla Cement Plant, strengthens footprint in Western India "We see in Dalmia Bharat a strong partner that wholeheartedly shares our vision of building a globally competitive, future-ready economy through sustainable industrialisation ," Lokesh said in a release. Welcoming the new unit, he said the southern state will be positioned as a global benchmark for green technology-led growth. Live Events Also Read: JSW Cement eyes 60 MTPA capacity as it targets top-five position in India The new cement unit will be run on over 80 per cent renewable power, recycle all its water and create 1,000 jobs, the release added. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
On the pricing front, gains remained modest despite rising energy and packaging costs, with cement prices increasing by up to 3 per cent q-o-q across regions View More
As India grows, its need for cement will grow with it. But this needn't be at odds with the country's climate goals. While the industry already has the technical know-how to produce cleaner cement, it still awaits a market that will reward decarbonization. View More