‘We will continue to work closely with the Government of Canada on our diversification plans,’ said an Algoma Steel vice president<\/p>\n
Today the federal government announced measures to protect and support workers and businesses against the 50 per cent tariffs that U.S. President Donald Trump added this week against Canada.<\/p>\n
Fran\u00e7ois-Philippe Champagne, the Minister of Finance and National Revenue, confirmed that Canada will match the new U.S. tariffs.<\/p>\n
\u201cWhen the United States asked too much and offered too little, we chose to stand up for Canadians. Our dollar-for-dollar, rate for rate counter-tariffs as well as a multi-billion dollar support package will protect workers, farmers, families, and businesses as we build a stronger, more resilient, and more diversified Canadian economy,\u201d Champagne said in a news release.<\/p>\n
Effective Sept. 8, Canada will impose counter-tariffs of 15, 25 and 50 per cent on products drawn from those targeted by U.S. Section 338 and Section 232 tariffs, with the rate for each product matching the corresponding U.S. rate.<\/p>\n
Canada’s counter tariffs will apply to products covering $27.6 billion in imports from the U.S. and will focus on sectors such as steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, that are most impacted by U.S. tariffs, the release said.<\/p>\n
In addition, to support Canadian workers and businesses impacted by U.S. tariffs, the government is also introducing a $7.5 billion package of new and enhanced measures that will help Canadian workers and businesses, adding to\u00a0the nearly $25 billion in support the government has provided since the U.S. implemented the tariffs.<\/p>\n
Terry Sheehan, MP for Sault Ste. Marie \u2013 Algoma, said the announcement shows the federal government \u201cis continuing to stand with Canadian workers and the industries that support communities like ours.\u201d<\/p>\n
\u201cHelping businesses navigate these trade challenges, and opening new opportunities for Canadian products are critical to protecting good local jobs and building a stronger, more resilient Canadian economy,\u201d Sheehan\u00a0said in a statement.<\/p>\n
\u201cWe will continue to work to ensure that Canadian workers have the support they need to weather these challenges and succeed in the future.\u201d<\/p>\n
In Sault Ste. Marie, the 50 per cent tariffs will\u00a0continue to impact Algoma Steel.<\/p>\n
Laura Devoni, Algoma\u2019s vice president of human resources and corporate affairs, said the fact that Canada was unable to reach an agreement with the U.S. \u201creinforces the importance of a strong and sustainable domestic steel market.<\/p>\n
\u201cWe will continue to work closely with the Government of Canada on our diversification plans and on measures necessary to support Canadian steel producers and customers,\u201d Devoni said by email.<\/p>\n","protected":false},"excerpt":{"rendered":"‘We will continue to work closely with the Government of Canada on our diversification plans,’ said an Algoma…\n","protected":false},"author":2,"featured_media":530640,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-871600","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/871600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=871600"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/871600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/530640"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=871600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=871600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=871600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}