Carney to announce aid measures for aluminum and steel producers
CBC
Prime Minister Mark Carney will announce new aid measures Wednesday aimed at helping Canada's aluminum and steel producers.
According to a government source who spoke to Radio-Canada, Ottawa will limit imports of foreign steel from countries that do not have a trade agreement with Canada. The move, first reported by the Toronto Star, could provide an extra $854 million worth of market potential for domestic producers.
Ottawa also wants to take measures to transform the steel industry so Canadian producers can better compete in the domestic market and will aim to cut the cost of transporting steel between provinces by 50 per cent.
Aid programs will also be announced for workers and businesses in the steel and lumber sectors.
The country's steel and aluminum producers have been caught in the crosshairs of trade tensions between Washington and Ottawa this year.
U.S. President Donald Trump slapped 25 per cent tariffs on Canadian steel and aluminum in March, then doubled those tariffs to 50 per cent in June.
More recently, Trump abruptly called off all trade talks with Canada, noting his displeasure with an ad from the Ontario government that used the late president Ronald Reagan’s own words to spread an anti-tariff message to an American audience.
Trump said Carney subsequently apologized to him about the ad.
Despite that, talks with the U.S. still haven't been "revived," Carney told reporters, earlier this month.
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