Carney to Roll Out New Support Plan for Metals Industry

Ottawa Prepares Sector Aid Announcement

Prime Minister Mark Carney is set to announce new federal support measures Wednesday to assist Canada’s aluminium, steel, and lumber sectors, industries that have been strained by escalating U.S. tariffs. The upcoming announcement follows weeks of mounting economic pressure and industry calls for government intervention.

Import Limits Set to Reshape Market Access

A senior government source told Radio-Canada that Ottawa plans to restrict steel imports from countries that do not have a trade agreement with Canada. First reported by the Toronto Star, the policy is expected to generate up to $854 million in additional domestic market space, giving Canadian producers an expanded foothold against foreign competitors.

Industry Modernization and Transport Reforms

The federal package also aims to accelerate transformation within the steel industry to strengthen competitiveness in the domestic market. One major component is a plan to reduce interprovincial steel transportation costs by 50 per cent, a move intended to make Canadian products more affordable and improve supply-chain efficiency nationwide.

Support Programs for Workers and Businesses

Ottawa will introduce targeted assistance for workers, businesses, and communities tied to the steel and lumber sectors. These supports will include new aid programs designed to help employers manage tariff-related disruptions and provide stability for employees facing reduced hours or shifting production schedules.

Tariff Escalations Strain Canadian Producers

Canada’s steel and aluminium industries have faced a year of turmoil after U.S. President Donald Trump imposed a 25 per cent tariff on Canadian metals in March, later doubling it to 50 per cent in June. The measures have sparked production challenges, price increases, and supply-chain uncertainty across the country.

Diplomatic Frictions Halt Trade Discussions

Tensions deepened after Trump abruptly cancelled all trade talks with Canada, expressing displeasure over an Ontario government advertisement that used a quote from former president Ronald Reagan to criticize U.S. tariffs. Trump has stated that Carney apologized for the ad, though the Prime Minister confirmed earlier this month that talks with Washington have not yet resumed.

The post Carney to Roll Out New Support Plan for Metals Industry first appeared on Maple News Wire.