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OEXN: Canada to Impose Additional Tariffs on U.S. Steel and Tighten Controls on Foreign Imports

Canada will impose "new 25% tariffs" on a range of steel derivative products — including many made in the US — as Prime Minister Mark Carney moves to support a steel industry hurt by cheap Chinese imports and the trade war. The new levy, effective "Dec. 26", will cover about "C$10 billion" in goods such as wind towers, prefabricated buildings, fasteners, and wires. Roughly "40%" of these imports usually come from the US. This is Carney’s first new duty on US goods since most retaliatory tariffs were dropped in September. A broad "25% tariff" on US steel and aluminum remains, though Canada has not matched President Trump’s "50% tariff". Carney emphasized the move is not aimed at the US but is meant to give Canadian producers more room to operate. Talks with Washington to reduce US tariffs remain stalled after Trump ended discussions on Oct. 23. Other measures include: - Extending, for the final time, the deadline for companies to apply for tariff relief on US steel until Jan. 31. - Lowering import quota thresholds for countries without trade agreements so tariffs activate earlier. - Providing C$1 billion in loans to support the struggling lumber sector. - Subsidizing domestic rail shipments of steel and lumber with a 50% discount. - Adding C$100+ million for programs that support workers with reduced hours. - Implementing a Buy Canada policy later this year for government contracts over C$25 million. Carney will travel to Washington on Dec. 5 for the World Cup draw but said trade talks with the US have not resumed. Canadian steelmakers, hurt by the US 50% steel tariff, have long urged Ottawa to strengthen Canada’s tariff defenses to prevent steel dumping.

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Publication date:

2025-11-28 10:57:57 (GMT)

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