Ottawa launches $100-million steel shipping rebate program as U.S. tariffs weigh on industry
The Canadian government has introduced a $100-million rebate program to subsidize domestic shipping costs for steelmakers. This initiative is designed to support the industry as it faces the threat of significant new U.S. tariffs.
Why it matters
This policy reflects the economic strain caused by trade protectionism and the Canadian government's attempt to shield domestic manufacturing from international trade barriers.
Federal Transport Minister Steven MacKinnon made the announcement in Hamilton while other officials were in Washington for trade talks aimed a negotiating changes to U.S. tariffs on Canadian steel. Cole Burston/Getty Images
The federal government is launching a $100-million rebate program that will partially subsidize the interprovincial shipping costs of Canadian steelmakers.
The program is aimed at encouraging greater domestic use of Canadian steel as the sector struggles with steep U.S. tariffs on its exports south of the border.
Effective immediately, the program will rebate 50 per cent of eligible rail or marine transportation costs for Canadian steel moving between provinces and territories for up to one year, or until the $100-million fund runs out.
“Canadian businesses want to use more Canadian materials and our government wants to support that,” Transport Minister Steven MacKinnon said at a news conference in Hamilton.
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