Canada may increase its counter-tariffs on US steel and aluminum if a broader trade deal isn’t reached with President Trump by July 21.
Prime Minister Mark Carney announced new measures to support Canadian steel and aluminum companies, including changes to federal procurement rules that will favor Canadian producers.
The US recently increased import duties on these metals from 25% to 50%, which could significantly impact Canada, the largest supplier of steel and aluminum to the US.
Canada has already imposed 25% retaliatory tariffs on $15.6 billion worth of US steel and aluminum products.