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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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22 Articles
22 Articles
Carney government to announce measures to protect steel industry: sources
Multiple senior government sources confirmed to CTV News that Mark Carney will announce measures on Wednesday to protect the steel industry, which has been hit with 50 per cent tariffs by the Trump administration.
·Canada
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Carney expected to announce new supports for steel industry hammered by U.S. tariffs
OTTAWA - The federal government plans to limit foreign steel imports and cut interprovincial rail freight rates in a bid to support Canada's steel industry threatened by damaging U.S. tariffs.
·Toronto, Canada
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Coverage Details
Total News Sources22
Leaning Left13Leaning Right0Center3Last UpdatedBias Distribution81% Left
Bias Distribution
- 81% of the sources lean Left
81% Left
L 81%
C 19%
Factuality
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