{"id":316606,"date":"2025-11-27T11:18:18","date_gmt":"2025-11-27T11:18:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/316606\/"},"modified":"2025-11-27T11:18:18","modified_gmt":"2025-11-27T11:18:18","slug":"canada-unveils-more-measures-to-protect-tariff-hit-steel-lumber-sectors","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/316606\/","title":{"rendered":"Canada unveils more measures to protect tariff-hit steel, lumber sectors"},"content":{"rendered":"\n<p class=\"yf-1090901\">OTTAWA, Nov 26 (Reuters) &#8211; Canada will offer more support to help the steel and lumber industries deal with \u200bU.S. <a href=\"https:\/\/finance.yahoo.com\/news\/live\/trump-tariffs-live-updates-trump-vows-export-curbs-india-hike-on-deck-china-and-canada-envoys-visit-us-200619355.html\" data-ylk=\"slk:tariffs;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\" rel=\"nofollow noopener\" target=\"_blank\">tariffs<\/a> and create a domestic market, Prime Minister Mark \u200cCarney said on Wednesday.<\/p>\n<p class=\"yf-1090901\">The government has also increased protection for steel and lumber workers, Carney told \u200ca press conference.<\/p>\n<\/p>\n<p class=\"yf-1090901\">Ottawa will reduce the quota for steel imports from countries that do not have a free trade agreement with Canada to 20% from 50% of 2024 levels, Carney said.<\/p>\n<p class=\"yf-1090901\">Countries with an FTA with Canada will see their quotas cut to \u206075% from 100% \u200cof the 2024 level. This does not include the U.S. and Mexico, which are bound by the United \u200dStates-Canada-Mexico free trade deal.<\/p>\n<p class=\"yf-1090901\">Canada will also impose a global 25% tariff on targeted imported steel-derivative products, and incorporate border measures to combat steel dumping.<\/p>\n<p class=\"yf-1090901\">In July, Ottawa \u200bset a quota of steel imports at 50% of the 2024 level from \u200cnon-FTA countries in bid to stop dumping of foreign steel into Canada.<\/p>\n<p class=\"yf-1090901\">The measures are being tightened to open up the domestic for Canadian-produced steel, said a government official.<\/p>\n<p class=\"yf-1090901\">The steel industry contributes over C$4 billion to GDP and employs more than 23,000 people directly. It is, however, one of of the \u2060two sectors hit hardest by President Donald Trump&#8217;\u200bs 50% tariffs on steel imports from \u200bCanada.<\/p>\n<p class=\"yf-1090901\">Ottawa will work with railway companies to cut freight rates for inter-provincial transfer of Canadian steel and lumber by 50%, \u200dbeginning in early 2026.<\/p>\n<p class=\"yf-1090901\">The \u2060government said would also support use of locally made steel and lumber in homebuilding, and financial aid for companies dealing with tariff-related impact such \u2060as on their workforce, liquidity crunch, and for restructuring operations.<\/p>\n<p class=\"yf-1090901\">(Reporting by Promit Mukherjee, \u200cediting by David Ljunggren)<\/p>\n<p class=\"yf-1090901\">((Reuters Ottawa editorial; david.ljunggren@tr.\u200ccom))<\/p>\n<p class=\"yf-1090901\">Keywords: USA TRUMP\/CANADA STEEL<\/p>\n","protected":false},"excerpt":{"rendered":"OTTAWA, Nov 26 (Reuters) &#8211; Canada will offer more support to help the steel and lumber industries deal&hellip;\n","protected":false},"author":2,"featured_media":316607,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,103,162569,101,162570,9580,16249,942,162568,14529],"class_list":["post-316606","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-canada","tag-canadian-steel","tag-economy","tag-lumber-industries","tag-mark-carney","tag-ottawa","tag-president-donald-trump","tag-steel-imports","tag-steel-industry"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/316606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=316606"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/316606\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/316607"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=316606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=316606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=316606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}