Canada and the US reached a trade agreement that averts 50 per cent tariffs, though the lower aluminium duties hit Norsk Hydro. Elsewhere, Switzerland and China concluded an updated deal eliminating most tariffs.
Ottawa and Washington secured a trade agreement that averts the 50 per cent tariffs scheduled for a range of Canadian goods. Reporting puts the new tariff rate on Canadian steel and aluminium at 25 per cent, down from the previously planned 50 per cent. This successful negotiation ensures that fundamental cross-border commerce and manufacturing supply chains are largely shielded from the severest disruptions.[1]
The tentative lower tariff on Canadian primary aluminium caused Norsk Hydro shares to fall 3 per cent in Oslo, as recycled aluminium scrap still carries a 10 per cent US tariff. RBC Capital Markets estimated that a fall of 300 dollars a tonne in the Midwest premium would cut the company's EBITDA by about 240 million Norwegian kroner, demonstrating the localized financial impact of international trade shifts.[2]
In a separate development, Switzerland and China concluded negotiations on an updated free trade agreement that will eliminate tariffs on 99.8 per cent of Swiss exports to China. The deal extends duty-free treatment beyond the 2014 framework and covers digital trade and environmental provisions, with signing planned before year-end 2026. This comprehensive pact reinforces the trend of securing advantageous bilateral pathways across continents.[3]
