OTTAWA — Canada is overhauling its steel trade policy to better protect its domestic industry from a flood of cheap imports, especially from China, while exempting the United States from the measures.
Prime Minister Mark Carney announced the new tariffs Wednesday during a visit to a steel plant in Hamilton, Ontario, outlining measures designed to reduce Canada’s reliance on foreign supply.
“We must diversify our trade relationships, and above all, we must rely more on Canadian steel for Canadian projects. Those shifts start today,” Carney said.
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Under the new policy, Canada will apply a 25 percent tariff on steel imports from any country — except the U.S. — if the original steel was melted and poured in China.
