Trump asked to reconsider tariffs imposed on Canadian steel, aluminum
Quebec City, June 10 : Canadian Prime Minister Justin Trudeau has pressed Washington to reconsider the US tariffs imposed on Canadian steel and aluminum, and encouraged President Donald Trump to work with Canada to address unfair trade.
Trudeau made the remarks when he met with Trump during the G7 Summit here in Canada on Friday, according to the official Group of Seven (G7) website.
The leaders of the G7, the world's most powerful industrialized countries including Canada, France, Germany, Italy, Britain, Japan and the US, meet every year to discuss collaboration on issues like world economy, climate change, security and peace.
Trudeau reiterated it is unacceptable to include Canada in 232 national security tariffs, Xinhua reported.
The two leaders also discussed the close security and economic partnership between Canada and the US. They exchanged views on energy exports from Canada. Furthermore, they agreed on the importance of bringing negotiations on the North American Free Trade Agreement (NAFTA) to a successful and timely conclusion.
Meanwhile, Trump said on Saturday that renegotiations on NAFTA could lead to a new trilateral trade deal with substantial changes or two separate trade agreements.
"We'll either leave it the way it is as a threesome deal with Canada, the United States and Mexico, and change it very substantially...or we're going to make a deal directly with Canada, directly with Mexico," Trump said.
"So we are either going to have NAFTA in a better negotiated form or we're going to have two deals. Both of those things could happen," Trump said, warning that it would be "very bad" for Canada and Mexico if no deal could be reached among the three countries.
Trump also said NAFTA negotiators were "pretty close" to agree on some kind of sunset provision, which could allow the trade agreement to be renegotiated every five years.
Talks on renegotiating the NAFTA began in August 2017 as Trump threatened to withdraw from the 23-year-old trade deal. The three countries remain divided over the rules of origin for automobiles and other issues following months-long negotiations.
The G7 summit came after the Trump administration announced last week to impose tariffs on steel and aluminum imports from the European Union (EU), Canada and Mexico, which has drawn strong opposition from the domestic business community and quick retaliation from US major trading partners.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
