Canadian Prime Minister Mark Carney announced a series of new trade measures aimed at protecting Canada's steel industry amid ongoing trade tensions with the United States. During a visit to the Walters Group steel manufacturing facility in Hamilton, Ontario, Carney unveiled plans to impose a 25% tariff on steel imports from all countries except the U.S. if the steel was melted and poured in China. Additionally, Canada will introduce a tariff-rate quota on steel imports from countries with which it has free trade agreements, excluding the U.S., reducing the quota from 100% to 50% of 2024 levels for countries without such agreements. These measures are designed to counteract the impact of U.S. tariffs imposed under President Donald Trump, which have disrupted global steel supply chains and redirected exports toward Canada. The Canadian government also announced increased support for domestic steel businesses and workers, including funding for projects and training programs. The new tariffs and quotas are set to take effect later this month, reflecting Canada's efforts to shield its steel sector from foreign competition and dumping practices involving Chinese steel products.
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CARNEY SAYS OTTAWA IS PREPARING SUPPORT MEASURES FOR STEEL AND SOFTWOOD LUMBER WORKERS IMPACTED BY U.S. TARIFFS.
Canada's PM Carney: Ottawa is preparing a response to help workers in the steel and softwood lumber industries who are faced with US tariffs.