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Department of Finance briefs industry stakeholders on Canada’s response to U.S. tariffs

Yesterday, the Deputy Minister of Finance, Chris Forbes, hosted a briefing with Canadian industry and labour stakeholders on Canada-United States (U.S.) economic issues. 

The Deputy Minister outlined the measures announced last week to support and protect Canada’s steel and aluminum workers and industries. The government will adjust its existing counter-tariffs on steel and aluminum products on July 21, to levels consistent with progress that has been made in the broader trading arrangement with the U.S.

The Deputy Minister reiterated that the government will also 

  • limit access to federal procurements to suppliers from Canada and reliable trading partners that provide reciprocal access,
  • establish new tariff rate quotas to stabilize the domestic market and prevent harmful trade diversion of steel products as the result of U.S. actions,
  • create government-stakeholder task forces to better support the steel aluminum industries and their workers, and
  • adopt additional tariff measures on the basis of “country of melt and pour” for steel and “country of smelt and cast” for aluminum over the coming weeks to address overcapacity and unfair trade in these sectors.

Please visit this link for more information: https://www.canada.ca/en/department-finance/news/2025/06/department-of-finance-briefs-industry-stakeholders-on-canadas-response-to-us-tariffs.html

 

Topic(s)

U.S. Tariffs and Canadian Retaliatory Surtax
Security and Trade Facilitation Programs
International Trade and Border Management

Information source

Finance Canada
Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.