Wed Jul 16 19:44:18 UTC 2025: **Summary:**
Canada, under Prime Minister Mark Carney, is introducing new measures to protect its domestic steel industry. These include tariff rate quotas on countries with free trade agreements (excluding the US), a 25% tariff on steel containing Chinese-processed steel, and prioritizing domestic steel companies in government procurement. A $1 billion fund will also support domestic steel projects. These measures are a response to industry complaints about trade diversion and unfair competition. While the steel industry generally welcomes the measures, some feel they are overdue. A Canadian steelmaker, Evraz, has also filed complaints against unfairly priced steel imports from several countries.
**News Article:**
**Canada Implements Tariffs and Investments to Bolster Domestic Steel Industry**
OTTAWA – Prime Minister Mark Carney announced sweeping measures Wednesday aimed at shielding Canada’s steel industry from global trade pressures and fostering domestic growth. The plan includes the introduction of tariff rate quotas on countries with existing free trade agreements, excluding the United States, effectively placing a 50% tariff on imports exceeding 2024 volumes.
The move is a direct response to industry concerns that US tariffs, coupled with broader global dynamics, have led to trade diversion, making Canadian steel producers less competitive.
In addition to the tariff rate quotas, Canada will impose a 25% tariff on all steel imports containing steel melted and poured in China, effective before the end of July. The government is also prioritizing domestic steel companies in its procurement processes.
To further support the industry, Prime Minister Carney unveiled a one billion Canadian dollar ($730 million) fund dedicated to advancing projects in key sectors such as defence, solidifying the government’s commitment to strengthening domestic steel production.
“These measures will ensure Canadian steel producers are more competitive by protecting them against trade diversion resulting from a fast-changing global environment for steel,” Carney stated.
Catherine Cobden, president and CEO of the Canadian Steel Producers Association, acknowledged the progress, but emphasized the urgency of the situation, stating, “This is something we should have been doing all along, but it’s fantastic to see that we are making progress.”
Meanwhile, Canadian steel maker Evraz announced it has filed complaints against unfairly priced imports of oil country tubular goods from Mexico, the Philippines, South Korea, Turkiye and the US, further highlighting the challenges facing the industry.
These new regulations represent a significant step towards safeguarding the Canadian steel industry against unfair competition and ensuring its long-term viability.
First Piper 