Reported about 16 hours ago
Canada plans to limit the amount of foreign steel that can be imported tariff-free in response to U.S. tariffs, helping domestic producers. The new measures will restrict imports from countries without trade agreements to half of last year's volume, while countries like South Korea will have more lenient quotas. Prime Minister Mark Carney emphasized the need to protect the Canadian steel industry as it faces significant challenges, including potential job cuts and a push for domestic steel procurement. The government will also invest C$70 million to support affected workers and C$1 billion to foster new steel projects.
Source: YAHOO