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Canada introduces new steel tariffs to protect domestic steel industry
Canada has announced the introduction of a tariff rate quota to shield its domestic steel industry from international pressures. Effective from 1 August 2025, the quota will apply to countries with which Canada has free trade agreements, excluding the US and Mexico. For countries that do not have free trade agreements with Canada, the government has reduced the tariff-free quota to 50% of the 2024 volumes, down from 100%. Imports exceeding this quota will also incur a 50% tariff. In response to the domestic industry’s concerns about becoming uncompetitive due to US tariffs, Canada will also implement additional 25% ... (full story)
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- Jul 17, 2025 5:43am Posted byFundamental Analysis272
