Скачать или смотреть Carney announces supports for Canada’s lumber, steel sectors

Canada's federal government is offering $500 million in loan guarantees to its 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 during a press conference on Wednesday.

Ottawa is cutting steel import quotas for countries that do not have a free trade agreement with Canada from 50 per cent to 20 per cent of last year’s levels.

Countries outside the United States and Mexico that do have trade pacts with Canada will also see their quotas dropped from 100 per cent to 75 per cent of last year’s levels.

“This will open up more than $850 million in new domestic demand for Canadian steel,” Carney said.

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