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Carney announces supports for Canada’s lumber, steel sectors
The federal government is offering $500 million in loan guarantees to softwood lumber industry and placing limits on imported foreign steel as the two sectors reel from U.S. President Donald Trump’s tariffs, Prime Minister Mark Carney said Wednesday. Ottawa is cutting back on steel imports from countries that do not have a free trade agreement with Canada from 50 per cent to 20 per cent of last year’s levels. “This will open up more than $850 million in new domestic demand for Canadian steel,” Carney said. Carney said the loan guarantee for softwood lumber will “ensure that companies have the financing and ... (full story)
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