As part of efforts to support Canada’s steel industry in the face of U.S. tariffs, Prime Minister Mark Carney outlined a plan to crack down on cheap, foreign steel imports.

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Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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Prime Minister Mark Carney has announced new measures aimed at protecting Canada's steel industry, which has been affected by significant U.S. tariffs and an influx of low-priced foreign steel. The plan includes stricter limits on steel imports before tariffs are applied, a $70 million investment for steel workers, and $1 billion for steel company projects.

Industry representatives have welcomed the support but emphasize the need for all tariffs to be lifted to restore free trade with the U.S. Some concerns remain about the potential for increased costs for builders, particularly in regions far from domestic mills, as the measures could raise prices for steel products and impact construction costs.

Carney announces crackdown on cheap steel imports

A day after the Prime Minister acknowledged a deal with Donald Trump would likely include tariffs, he visited the heart of Canada's steel industry to help a sector hit hard. We have to change the way we do things so we can better support our companies and our workers during this time of change. Facing mounting calls for help, Mark Carney vowed to protect Canadian steel producers struggling with 50% U.S. tariffs. The combination of all these measures will ensure that Canadian steel producers have a bigger share of the Canadian market. His plan doing more to crack down on a problem made worse by Trump's trade war. The amount of cheap steel foreign countries like China are selling into Canada by tightening the limits on how much steel Canada imports before certain tariffs kick in. The government's also investing $70 million to help steel workers and $1 billion for steel companies' projects. There's a lot of good things that were announced today but we can't lose sight of our primary focus. What David Fritz says he really wants is all tariffs lifted. He says a steel fabrication company in Saskatchewan needs W-shaped beams from the U.S. that it can't get in Canada even though they're the most commonly used type to build structures and bridges. It's easy to say just go find alternate sources for your steel supply. But we have long-term relationships. We need to get to an agreement with the U.S. so that we can continue trading freely and fairly. Trump says the deals he's striking with countries include tariffs. We have a number of them coming up but overall we're doing well and we're taking in a lot of money. But Carney suggested the level of tariffs Canada would accept is still up for negotiation. We'll see what the final agreement is, if there is an agreement. The Conservatives trade critic called Carney's announcement a step in the right direction but said a deal that includes tariffs is not an option. Ashley, Trump said more deals are coming but I'm not hearing indications that Canada is close to one. Yeah, Carney called the negotiations long and tough. He said they're working constructively on a deal but was clear there isn't one on the table yet with Trump's deadline two weeks away. Ashley Burke reporting in Ottawa. For a bit more on the economics of this, let's bring in senior business reporter Nisha Patel. So Nisha, how much does the industry need this kind of support? Well, when Donald Trump hiked steel tariffs to 50%, Canadian producers say they were basically shut out of the U.S. market. The industry has seen a 30% drop in production in May, hundreds of job losses and warned worse could be coming. So companies say they needed support urgently. But even before the trade war started, steel makers had been calling for this crackdown accusing countries like China of flooding Canada with steel at artificially low prices. Right now, foreign steel supplies two-thirds of all the steel sold in Canada. That is not the recipe for a strong, stable, secure, strategic supply chain. So the measures that Ottawa announced will raise the cost of imported steel which could boost demand for domestic steel. Now, it may not make up for all of the business that Canadian companies have lost to the U.S. but it could go a long way. So Nisha, the steel industry sees this as a positive move but there are trade-offs. Yes, some companies are really concerned that this will raise the cost of steel products. They say with most steel mills located in Ontario and Quebec, it's really expensive to put rebar on a train and ship it right across the country which is why builders in B.C. don't source their steel domestically. It's actually cheaper for them to get it from the U.S. or overseas. They are looking for an exemption from Ottawa. They say without it, building projects like new condos are going to get more expensive costs that will ultimately be passed on to consumers. Thank you, Nisha. You're welcome.

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Carney announces crackdown on cheap steel imports

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