Canada extends US steel and aluminum tariffs by one year
Finance Minister Francois-Philippe Champagne announced that Canada will extend steel tariff-rate quotas and relief on US imports until June 2027. The move aims to shield workers from global excess capacity while providing industry certainty.
Canada will extend steel tariff-rate quotas and aluminum import relief for the United States by one year, maintaining a 50% tariff on over-quota imports. This extension through June 2027 follows previous measures designed to shield domestic workers from global excess capacity. The move ensures price stability for North American industrial supply chains by preventing sudden surges in low-cost metal imports.
Finance Minister François-Philippe Champagne announced the extension on Wednesday. He cited the need to protect domestic workers from global market imbalances. The move aims to provide the metals industry with operational stability through June 2027.
