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Canada Freezes Steel Imports, Imposes 50% Tariff on Excess

7/1/2025

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Summary

Story summary

On June 19, Canada took a bold step to safeguard its steel industry by freezing imports from non-free-trade countries at 2024 levels and slapping a hefty 50% tariff on any excess shipments. This move targets the influx of cheap steel, especially from China, as Prime Minister Carney's government navigates the delicate balance between trade protection and WTO compliance.

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Story summary

On June 19, Canada took a bold step to safeguard its steel industry by freezing imports from non-free-trade countries at 2024 levels and slapping a hefty 50% tariff on any excess shipments. This move targets the influx of cheap steel, especially from China, as Prime Minister Carney's government navigates the delicate balance between trade protection and WTO compliance.