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Canada Imposes 25% Steel Tariff Amid U.S. Trade Tensions

11/27/2025

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Summary

Story summary

Canadian Prime Minister Mark Carney announced on November 26, 2025, a global 25% tariff on certain imported steel products.
The government will reduce steel import quotas from countries not covered by free trade agreements.
The measures aim to protect and reposition the steel and lumber sectors in response to tariffs by U.S. President Donald Trump.
The plan includes cutting freight rates by 50% with railway companies starting in early 2026.

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Story summary

Canadian Prime Minister Mark Carney announced on November 26, 2025, a global 25% tariff on certain imported steel products.
The government will reduce steel import quotas from countries not covered by free trade agreements.
The measures aim to protect and reposition the steel and lumber sectors in response to tariffs by U.S. President Donald Trump.
The plan includes cutting freight rates by 50% with railway companies starting in early 2026.