Prime Minister Mark Carney unveiled a comprehensive industrial strategy aimed at reinforcing Canada’s steel sector, as the country grapples with U.S. tariffs and global steel market distortions. The strategy includes measures designed to curb harmful trade diversion and strengthen domestic supply chains.
As part of this plan, Canada will reduce the amount of foreign steel importers can bring into the country tariff-free. This move is intended to help domestic producers who are suffering from U.S. President Donald Trump’s levies on the sector.
The government's actions are designed to prepare Canadian producers for deep shifts in global steel markets and to ensure the resilience of the national steel industry. This strategic intervention could provide a more stable operating environment for companies like Algoma Steel.
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