Canada to cut steel imports, impose higher tariffs to protect domestic industry

ANKARA

Canada will curb steel imports and impose higher tariffs to shield its domestic industry from the impact of US tariffs under President Donald Trump, Prime Minister Mark Carney said Wednesday, according to the BBC.

Carney announced that tariff rate quotas on steel from countries without free trade agreements with Canada will be reduced from 100% to 50% of 2024 import volumes. Any shipments above that level will face a 50% tariff.

Products covered under the Canada-US-Mexico Agreement (CUSMA) will remain exempt from the new restrictions, Carney said.

However, he added that an additional tariff would apply to steel imports from non-US countries if the steel was “melted and poured in China,” reflecting concerns over Chinese steel entering the market through third countries.