Ottawa has announced new steel quotas to bolster the industry in response to U.S. tariffs, imposing a 50 percent surtax on steel imports exceeding 2024 levels from countries with which Canada does not have a free trade agreement.
“Our government has a mandate to build one Canadian economy—the strongest in the G7. That means standing up for our industries and workers and defending them from the harmful impacts of unjust U.S. tariffs,” Finance Minister François-Philippe Champagne said in a June 27 press release.
Ottawa has implemented tariff rate quotas that will add a surtax to steel imports from non-free trade agreement countries surpassing 2.6 million tonnes. The measure will help support Canada’s domestic steel industry, which has come under threat from tariffs by U.S. President Donald Trump, the finance department said….