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Canada slashes steel imports and boosts support for industries amid U.S. trade tensions.
Prime Minister Mark Carney is set to announce new measures to protect Canada’s steel and softwood lumber industries amid ongoing U.S. trade tensions.
The government will reduce steel import limits from non-free-trade countries from 50% to 20% of 2024 levels, creating about $854 million in domestic market space.
Ottawa will also cut interprovincial steel shipping costs by 50% through CN Rail, with federal subsidies if needed.
Additional support for steel producers, workers, and expanded funding for softwood lumber are expected.
The moves follow stalled trade talks after a U.S. suspension over Ontario’s anti-tariff ads referencing Ronald Reagan.
Canadá recorta las importaciones de acero y aumenta el apoyo a las industrias en medio de las tensiones comerciales de los Estados Unidos.