{"id":75473,"date":"2025-07-17T09:33:08","date_gmt":"2025-07-17T13:33:08","guid":{"rendered":"https:\/\/wawa-news.com\/?p=75473"},"modified":"2025-07-17T09:33:08","modified_gmt":"2025-07-17T13:33:08","slug":"prime-minister-carney-announces-new-measures-to-protect-and-strengthen-canadas-steel-industry","status":"publish","type":"post","link":"https:\/\/wawa-news.com\/index.php\/2025\/07\/17\/prime-minister-carney-announces-new-measures-to-protect-and-strengthen-canadas-steel-industry\/","title":{"rendered":"Prime Minister Carney announces new measures to protect and strengthen Canada\u2019s steel industry"},"content":{"rendered":"

July 16, 2025
\nHamilton, Ontario<\/p>\n

Canada is one of the countries most exposed to the fundamental restructuring of the global steel industry, with substantial steel exports, high per capita use, and a disproportionately open import market. To remain competitive and grow our economy, Canada must reinforce our strength at home. Our objective is to stabilize the domestic steel market and prevent harmful trade diversion amid current tensions in global steel trade.<\/p>\n

Today, the Prime Minister, Mark Carney, announced a suite of targeted measures to stand behind Canada\u2019s steel industry, protect Canadian careers, and invest in our homegrown industrial capacity to build Canada strong. Canada\u2019s new government will:<\/p>\n

    \n
  1. Restrict and reduce foreign steel imports entering the Canadian market<\/strong>\n
      \n
    • As stated on June 19, 2025, Canada\u2019s new government promised to review our tariff rate quotas for non-free trade agreement (FTA) partners in 30 days. To that end, the following changes to tariff rate quotas will take effect in the coming days.<\/li>\n
    • First, Canada will tighten the tariff rate quota levels for steel products from non-FTA countries from 100% to 50% of 2024 volumes. Above those levels, a 50% tariff will apply.<\/li>\n
    • Second, for non-U.S. partners with which we have an FTA, Canada will introduce a tariff rate quota level for steel products at 100% of 2024 volumes and apply a 50% tariff on steel imports above those levels.<\/li>\n
    • Existing arrangements with our CUSMA partners will remain the same, including no changes to our current trade measures with the U.S.<\/li>\n
    • The government is reviewing its remission framework to favour the use of Canadian steel and aluminum in Canadian-made products.\u00a0Canada will reassess its existing trade arrangements with respect to steel, consistent with progress made in the bilateral discussions with the U.S. and taking into account broader steel negotiations.<\/li>\n
    • Canada will also implement additional tariffs of 25% on steel imports from all non-U.S. countries containing steel melted and poured in China before the end of July.<\/li>\n
    • These measures will ensure Canadian steel producers\u00a0are more competitive by protecting them against trade diversion resulting from a fast-changing global environment for steel, creating more resilient supply chains, and unlocking new private capital in Canadian production.<\/li>\n<\/ul>\n<\/li>\n
    • Invest in Canadian steel workers and production<\/strong>\n
        \n
      • Building on the enhancements to Employment Insurance (EI) and the EI Work-sharing, the government is investing $70\u00a0million in Labour Market Development Agreements to provide training and income supports for up to 10,000 affected steel workers. Through reskilling investments and increased worker supports, we will ensure workers have the skills and support they need to meet the future needs of the industry.<\/li>\n
      • To strengthen and ready the workforce to build a more resilient steel industry, Canada will provide $1\u00a0billion to the Strategic Innovation Fund to help steel companies advance projects that will increase their competitiveness within the domestic market, catalyze production of steel products not currently produced in Canada, and create jobs in sectors such as defence.<\/li>\n
      • The Business Development Bank of Canada\u00a0Pivot to Grow initiative is being enhanced to provide support to eligible steel small and medium-sized enterprises facing liquidity challenges.<\/li>\n
      • The steel industry will be prioritized with $150\u00a0million as part of the government\u2019s Regional Tariff Response Initiative through the Regional Development Agencies.<\/li>\n
      • Finally, the Large Enterprise Tariff Loan will be updated to expand eligibility and provide lower cost financing to firms in the steel industry. These changes will include reducing the minimum annual revenue requirement from $300\u00a0million to $150\u00a0million, reducing the minimum loan size from $60\u00a0million to $30\u00a0million, extending the loan maturity from 5 to 7\u00a0years, reducing the initial interest rate, and requiring companies to prioritize worker retention.<\/li>\n<\/ul>\n<\/li>\n
      • Prioritize Canadian steel to build big projects<\/strong>\n
          \n
        • As the federal government delivers on its mandate to build major, national projects and millions more homes faster, we will ensure Canadian steel and other Canadian materials are prioritized in construction. We will also change federal procurement processes to require companies contracting with the federal government to source steel from Canadian companies.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n

          At this transformative moment, we are shifting from reliance to resilience \u2013 using Canadian steel to protect our sovereignty, grow our industries, export our energy, and build one strong Canadian economy. It\u2019s time to build big, build bold, and build the strongest economy in the G7 using Canadian steel.<\/p>\n","protected":false},"excerpt":{"rendered":"

          July 16, 2025 Hamilton, Ontario Canada is one of the countries most exposed to the fundamental restructuring of the global steel industry, with substantial steel exports, high per capita use, and a disproportionately open import market. To remain competitive and grow our economy, Canada must reinforce our strength at home. Our objective is to stabilize …<\/p>\n","protected":false},"author":61,"featured_media":73751,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-75473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-federal"],"publishpress_future_action":{"enabled":false,"date":"2026-04-30 14:12:49","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts\/75473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/comments?post=75473"}],"version-history":[{"count":1,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts\/75473\/revisions"}],"predecessor-version":[{"id":75474,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts\/75473\/revisions\/75474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/media\/73751"}],"wp:attachment":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/media?parent=75473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/categories?post=75473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/tags?post=75473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}