Canada Introduces New Measures to Protect Steel, Aluminum, and Strengthen the Economy
The Government of Canada has announced a series of measures to defend Canadian steel and aluminum producers from unjust U.S. tariffs and support the domestic economy.
Key actions include:
Adjusting counter-tariffs on U.S. steel and aluminum products as of July 21.
Implementing reciprocal procurement policies effective June 30, to limit access to federal contracts for countries that do not offer Canadian suppliers’ fair access.
Introducing new tariff rate quotas on steel imports from non-free trade agreement countries to stabilize the domestic market.
Applying targeted tariff measures based on the origin of steel and aluminum production to address global overcapacity and unfair trade.
Establishing industry task forces for steel and aluminum to monitor market trends and support decision-making.
Maintaining the $10 billion Large Enterprise Tariff Loan program to assist affected large businesses.
A remission process is in place to give businesses time to adjust their supply chains, with remissions currently granted under narrow, time-limited conditions to ensure a targeted and balanced approach.
Additional individual requests are expected to be approved in the coming days.
The government will continue working with provinces and territories and remains prepared to take further action to defend Canadian industries and ensure a resilient, competitive economy.
For more information, please visit this link:
Omnitrans will continue to monitor developments and provide updates as new information becomes available.