Prime Minister Carney announces new measures to protect and strengthen Canadian steel industry

Canada is one of the countries most exposed to the fundamental restructuring of the world steel industry. Moreover, with substantial steel exports, high use per capita and an open import market in a disproportionate manner. However, To remain competitive and develop its economy, Canada must increase its strength within the country. For example, Our goal is to stabilize the internal steel market. Therefore, prevent any hijacking from the prejudicial commercial currents in the context of current tensions on the world steel market.

Today. For example, Prime Minister Mark Carney has announced a series of targeted measures to support Canadian Steel Industry, to protect the careers of Canadians, and to invest in our national industrial capacity in order to build a strong Canada. Similarly, The new government of Canada will take the following measures:

1. Restrict. Nevertheless, reduce imports of foreign steel on the Canadian market
   • As announced prime minister carney announces new on June 19, 2025, the new Government of Canada promised to examine the tariff contingents for the non-signer partners of free trade agreements (ALE) within 30 days. However, To this end, the following changes to tariff contingents will come into force in the coming days.
   • Firstly. However, Canada will strengthen the levels of tariff contingents on steel products from non-siders of Ale from 100 % to 50 % of volumes of 2024. Consequently, Beyond these levels, customs duties of 50 % will apply.
   • Second. Similarly, for partners other than the United States with which we have an ALE, Canada will establish a level of price contingent for steel products corresponding to 100 % of the volumes of 2024 and will apply customs duties of 50 % on steel imports exceeding these levels.
   • The agreements in force with our ACEUM partners will remain such as. Meanwhile, and current commercial measures with the United States prime minister carney announces new will not be modified.
   • The government is examining its discount framework to promote the use of Canadian steel. For example, aluminum in products made in Canada. Moreover, Canada will reassess its current trade agreements with regard to steel. in accordance with the progress made in bilateral discussions with the United States and taking into account general steel negotiations.
   • In addition. Canada will apply additional customs duties of 25 % on steel imports from all countries other than the United States containing melted steel and sunk in China.
   • These measures will strengthen the competitiveness of Canadian steel producers by protecting them from the embezzlement of trade currents resulting from the rapid development of the world steel market. by creating more resilient supply chains and by unlocking new private capital in Canadian production.
2. Invest in Canadian steel workers. steel production
   • By relying on improvements to Employment Insurance (AE) and the share of the AE labor, the government prime minister carney announces new will invest $ 70 million in the development of the labor market to provide training and income support measures to nearly 10,000 affected steel workers. By investing in requalification. increasing the aid measures offered to the workforce, we will ensure that workers have the skills and support necessary to meet the future needs of the industry.
   • In order to strengthen the workforce. prepare it to build a more resilient steel industry, Canada will provide a billion dollars to the strategic fund for innovation in order to allow companies to advance projects that will improve their competitiveness on the national market, which will catalyze the production of steel products which are not currently manufactured in Canada and will create jobs such as that of Defense.
   • The Pivot initiative to propel the Development Bank of Canada is extended to provide support for small. medium -sized admissible enterprises in the steel industry with liquidity problems.
   • The prime minister carney announces new steel industry will be prioritized thanks to an investment of $ 150 million in the federal initiative for response to customs duties. through regional development organizations.
   • Finally. the credit for large companies affected by customs duties will be updated: the eligibility criteria will be widened and more advantageous rate financing will be offered to companies. These changes will include the reduction in the minimum annual turnover required from $ 300 to $ 150 million. the minimum loan reduction of $ 60 to 30 million, the extension of the duration of the loan from 5 to 7 years, the reduction in the initial interest rate and the obligation for companies to give priority to the maintenance of workers.
3. Opt for Canadian steel in priority for the realization of major projects
   • While the federal government is responsible for its mandate of building large projects of national interest. building millions of additional housing more quickly, we prime minister carney announces new will ensure that steel and other Canadian materials are used as a priority in construction. We also intend to modify federal procurement procedures in order to oblige companies that pass contracts with the federal. government to obtain steel in Canadian companies.

In this transformation period. we go from dependence on resilience by using Canadian steel to protect our sovereignty, develop our industries, export our energy and build a strong Canadian economy. It is time to build large. to build with audacity and to build the strongest economy in the G7 with Canadian steel.

Prime minister carney announces new

Citations – Prime minister carney announces new

“Our steel industry will be at the heart of Canada’s competitiveness, security and prosperity. At a time when our country is dependent on resilience. the new Government of Canada takes on important measures to support, strengthen and transform industry so that it is more resilient in the face of profound changes in the world market prime minister carney announces new and supply chains. »»

“Our government continues to defend Canadian workers, businesses and investments while we adapt to the new commercial environment. At the same time. we actively strengthen our national producers thanks to the major additional support measures announced today, allowing them to build essential infrastructure and ensure the prosperity of workers in this key Canadian industry. »»

“Protecting the Canadian steel industry is defending Canadian jobs, guaranteeing our economic sovereignty and building the future here, here. Canada Steel workers are essential to building a strong Canadian economy. Protecting their jobs is protecting the economic future of Canada. »»

“Steel workers and their industry are essential to the Canadian economy. Canada will support those whose jobs are threatened by customs duties. Today’s announcement will help workers access training and upgrade skills adapted to the needs of the steel sector. While we build the strongest country of the G7. the message addressed to prime minister carney announces new Canadian steel workers is clear: we are with you. »»

“Canada built faster and more resilient. By prioritizing Canadian steel. local materials in our projects, we take measures to support Canadian suppliers, protect well-paid jobs and strengthen our supply chain while supporting our industry in the face of unjustified rates imposed by the United States. »»

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