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Carney announces new support for steel and lumber industries, but nothing for aluminum
The government will cut steel import quotas from non-FTA countries to 20% of last year’s levels and add $500 million to support the softwood lumber sector.
- On Tuesday, Prime Minister Mark Carney announced measures in Ottawa to support Canada's steel and lumber industries, including tighter import quotas and additional loan guarantees.
- After stalled negotiations, officials said the U.S. raised tariffs on steel and lumber, with steel quotas dropping from 100 per cent to 75 per cent of last year's levels.
- The plan tightens steel quotas from 50 to 20 for countries without free‑trade agreements and reduces free‑trade partner quotas from 100 to 75 of 2024 levels, with a 50% surtax on imports above thresholds.
- Officials estimated the fiscal cost at $146 million and framed the package as building domestic industry as the U.S. market narrows, despite no new measures for the aluminum industry under Buy Canadian Policy.
- By targeting non‑FTA imports, the government aims to curb reliance on certain foreign steel—largely aimed at reducing Chinese steel imports—and position Canadian steel and lumber sectors to seize new markets and protect competitiveness.
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Carney pins hopes on domestic market with new steel, lumber tariff supports
OTTAWA — Prime Minister Mark Carney wants the Canadian lumber and steel sectors to look for more opportunities at home as U.S. tariffs and shifting global trade tides limit their opportunities abroad.
·Cambridge, Canada
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Carney pins hopes on domestic market with new steel, lumber tariff supports
OTTAWA — Prime Minister Mark Carney wants the Canadian lumber and steel sectors to look for more opportunities at home as U.S. tariffs and shifting global trade tides limit their opportunities abroad.
·Orillia, Canada
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Total News Sources40
Leaning Left19Leaning Right3Center8Last UpdatedBias Distribution63% Left
Bias Distribution
- 63% of the sources lean Left
63% Left
L 63%
C 27%
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