Canada, China and Steel
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The package includes caps on imported steel, a push to prioritize Canadian steel in government procurement, and $70 million to retrain workers.
Prime Minister Mark Carney on Wednesday said Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry.
Industry made the comments after PM Carney said he didn’t believe the U.S. would fully remove tariffs on Canada
A day after publicly acknowledging that any eventual trade deal with the United States “will likely include some tariffs,” Prime Minister Mark Carney is set to unveil the next steps in his government’s ongoing efforts to support Canada’s steel sector during a morning visit to an unnamed “steel manufacturing company” in Hamilton, Ont. (11:30 a.m.)
As the Trump administration seeks trade deals, it has targeted major steel exporters Brazil, Canada, Mexico and South Korea with looming higher tariff rates.