US EditionHow Canada is responding to the U.S. steel and aluminum tariffs
CANADA, JUL 16 – Canada introduces a $10-billion loan program and tariff exemptions to support businesses affected by U.S. steel and aluminum tariffs covering $29.8 billion in imports, government says.
- On July 16, 2025, Prime Minister Mark Carney announced targeted measures in Hamilton to support Canada's steel industry amid global trade tensions.
- These measures respond to U.S. tariffs raised to 50% on steel and aluminum earlier this year and aim to prevent trade diversion into Canada.
- Canada will implement tariff rate quotas for steel from free-trade partners starting August 1, excluding the U.S. and Mexico, with surtaxes applied above 2024 volume levels.
- The government also invests $1 billion in innovation, $70 million in worker training, revises a $10-billion loan program for steel firms, and mandates federal projects to prioritize Canadian steel.
- These steps aim to stabilize the domestic steel market, enhance competitiveness, and build resilience amid ongoing U.S. trade challenges and investor scrutiny before August 1.
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A month and a half after President Trump raised tariffs on steel and aluminum to 50 percent, the cries for a deal are growing louder.
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Coverage Details
Total News Sources35
Leaning Left11Leaning Right2Center5Last UpdatedBias Distribution61% Left
Bias Distribution
- 61% of the sources lean Left
61% Left
L 61%
C 28%
11%
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