‼️BREAKING: EU to Hit Canada with Carbon Tariffs
All is fair in love, war and trade!
In a stunning blow, the EU is imposing carbon border charges on Canadian steel, iron, and aluminum starting 2027.
-$2.8 billion in exports exposed — no exemption for Canada despite its own carbon price.
-Internal docs call it “effectively a carbon tariff.”
Quebec and Newfoundland hardest hit as Ottawa pushes EU trade diversification.
-Canadian producers face new compliance costs and higher prices on metals already slammed by U.S. tariffs.
-The EU is weaponizing climate policy into a direct trade hit on Canada.
The EU is applying its Carbon Border Adjustment Mechanism (CBAM) to Canadian steel, iron and aluminum to stop “carbon leakage”.
Our new best friends dont even want our stuff! How brutal is this?
Oct 28, 2026 · 2:23 PM UTC
It gets WORSE
nitter.cf/Tablesalt13/status/211…
‼️MAJOR BREAKING: Carney's entire plan has collapsed.
First, the EU is preparing carbon tariffs that will hit Canadian exports hard, adding costs to steel, aluminum, cement and other goods as Brussels pushes its climate agenda onto trading partners.
Now comes a second blow: the EU has withdrawn its offer of associate member status for Canada, per sources to CBC.
EU members were not on board.
Carney's entire plan has COLLAPSED.
This will end up being MUCH worse for Canada than negotiating a trade deal with Trump. Carney keeps selling Europe as our economic salvation when in fact Canadian industries could face another layer of carbon costs JUST TO ACCESS that market. So much for diversification!
You get what you voted for you Liberal Carney fans. Unfortunately, the rest of us have to pay the price too.
Damn, seems like the whole world is waking up to Mark Carney. Well everyone but liberal supporters, who just happen to be the majority of Canada. Unfortunately they’ll wake up and realize this after Canada resembles the EU.
Which they’ll blame Trump for.
By then Carney will be retired to the Swiss or French alps enjoying the billions he’s made destroying Canada.
Nothing is going to get better. CBC reporting (based on Global Affairs Canada internal documents obtained via access to information) confirms Canadian iron, steel, and aluminum face the CBAM. A December 2025 briefing note describes it as a “border charge” or “effectively a ‘carbon tariff.’” An exemption is “not currently possible” because Canada’s carbon price is not linked to the EU’s. Roughly $2.8 billion in annual exports are exposed; Quebec (aluminum/iron/steel ~$792 million) and Atlantic Canada/Newfoundland-area iron and steel (~$885 million, nearly half of some exports) are highlighted as hardest hit. EU carbon price was ~$134/tonne in 2025 vs. Canada’s ~$95. Financial obligations for 2026 imports are due in 2027; the mechanism ramps up over time. Canadian producers face new compliance costs on top of existing US tariff pressures on metals.
This lands as Ottawa pursues closer EU trade ties and diversification (Canada-EU summit timing noted in coverage). Canadian aluminum has a potential low-carbon edge in some analyses, but the price gap and lack of linkage still create costs. The broader steel/aluminum sector is already squeezed by US Section 232/338-style tariffs (escalations discussed for 2026–2027) and Canada’s own retaliatory measures and import quotas.
On the fiscal side you referenced in recent posts, the Parliamentary Budget Officer’s October 2026 outlook tracks real cash borrowing of about $733 billion over the next five years against reported cumulative deficits of ~$333 billion. The gap comes from accrual accounting (capital/loans to Crown corporations treated as assets rather than immediate liabilities). Interest is the fastest-growing federal expense, heading toward ~$83 billion annually by 2030–31; debt-to-GDP is projected to rise (to ~42.6%); growth is soft (~0.9% this year in some projections); and the declining deficit-to-GDP anchor is not fully met under current plans. PBO notes this obscures the cash picture of debt and sustainability.
Your “last few weeks / look under the hood” framing points at exactly these overlapping pressures: trade frictions with both the US (major market) and now the EU (diversification target), layered on fiscal accounting that separates headline deficits from actual borrowing/interest, plus the everyday metrics (jobs, grocery/gas costs, housing) that keep coming up in reporting. The internal documents and PBO numbers are public or obtainable; they are the concrete details behind the announcements.
Whether that improves or compounds depends on what Ottawa negotiates on CBAM linkage/exemptions, tariff outcomes with the US, and how the November budget and spending trajectory actually play out relative to the PBO baseline. The data is there to track.
Nothing is going to get better. CBC reporting (based on Global Affairs Canada internal documents obtained via access to information) confirms Canadian iron, steel, and aluminum face the CBAM. A December 2025 briefing note describes it as a “border charge” or “effectively a ‘carbon tariff.’” An exemption is “not currently possible” because Canada’s carbon price is not linked to the EU’s. Roughly $2.8 billion in annual exports are exposed; Quebec (aluminum/iron/steel ~$792 million) and Atlantic Canada/Newfoundland-area iron and steel (~$885 million, nearly half of some exports) are highlighted as hardest hit. EU carbon price was ~$134/tonne in 2025 vs. Canada’s ~$95. Financial obligations for 2026 imports are due in 2027; the mechanism ramps up over time. Canadian producers face new compliance costs on top of existing US tariff pressures on metals.
This lands as Ottawa pursues closer EU trade ties and diversification (Canada-EU summit timing noted in coverage). Canadian aluminum has a potential low-carbon edge in some analyses, but the price gap and lack of linkage still create costs. The broader steel/aluminum sector is already squeezed by US Section 232/338-style tariffs (escalations discussed for 2026–2027) and Canada’s own retaliatory measures and import quotas.
On the fiscal side you referenced in recent posts, the Parliamentary Budget Officer’s October 2026 outlook tracks real cash borrowing of about $733 billion over the next five years against reported cumulative deficits of ~$333 billion. The gap comes from accrual accounting (capital/loans to Crown corporations treated as assets rather than immediate liabilities). Interest is the fastest-growing federal expense, heading toward ~$83 billion annually by 2030–31; debt-to-GDP is projected to rise (to ~42.6%); growth is soft (~0.9% this year in some projections); and the declining deficit-to-GDP anchor is not fully met under current plans. PBO notes this obscures the cash picture of debt and sustainability.
Your “last few weeks / look under the hood” framing points at exactly these overlapping pressures: trade frictions with both the US (major market) and now the EU (diversification target), layered on fiscal accounting that separates headline deficits from actual borrowing/interest, plus the everyday metrics (jobs, grocery/gas costs, housing) that keep coming up in reporting. The internal documents and PBO numbers are public or obtainable; they are the concrete details behind the announcements.
Whether that improves or compounds depends on what Ottawa negotiates on CBAM linkage/exemptions, tariff outcomes with the US, and how the November budget and spending trajectory actually play out relative to the PBO baseline. The data is there to track.
