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Carney to announce measures to protect steel, softwood lumber industries: Report
Prime Minister Mark Carney unveils measures cutting steel import quotas to 20% for non-free trade countries and subsidizes domestic freight costs by 50%, opening $854 million market potential.
- Prime Minister Mark Carney will announce new measures on Wednesday to protect and transform Canadian strategic industries, including reducing steel imports from countries without free trade agreements from 50% to 20% of 2024 levels.
- The government plans to work with CN Rail to cut freight rates by 50% when shipping steel interprovincially, or subsidize the difference if CN can't oblige.
- Carney is also expected to announce supports for the softwood lumber industry on Wednesday.
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Carney announces new support for steel, lumber sectors hammered by U.S. tariffs
OTTAWA — Prime Minister Mark Carney says the federal government is rolling out a new suite of supports to shore up the domestic steel and lumber industries hit hard by U.S. tariffs. Carney said at an event on Parliament Hill Wednesday that since U.S.
·Thorold, Canada
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Ottawa set to announce new supports for steel, softwood lumber industries: source
Prime Minister Mark Carney initially cut steel import quotas from non-free trade nations in half over the summer, and introduced a 50 per cent tariff on all imports that exceeded the new threshold.
·Canada
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Coverage Details
Total News Sources49
Leaning Left27Leaning Right2Center6Last UpdatedBias Distribution77% Left
Bias Distribution
- 77% of the sources lean Left
77% Left
L 77%
C 17%
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