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Canada Launches C$1.5 Billion Support Package for Metals Industry Hit by U.S. Tariffs
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2026-08-21
The Canadian government has announced a C$1.5 billion support package to help domestic manufacturers affected by new U.S. tariffs on steel, aluminum, and copper products. The measures include a new C$1 billion financing program through the Business Development Bank of Canada (BDC) and an additional C$500 million under the Regional Tariff Response Initiative.
The BDC program will provide favorable financing to companies that rely heavily on steel, aluminum, or copper in their production and have been impacted by revised U.S. Section 232 tariffs. Under the updated rules, derivative products made primarily from these metals are now subject to a 25% tariff on their full value, replacing the previous method that taxed only the metal content.
Canada criticized the U.S. measures as "unfair and unjustified," saying the funding aims to improve liquidity, strengthen industrial resilience, and help manufacturers adapt to changing market conditions. The government also reaffirmed its own 25% tariffs on selected U.S. steel-derived imports, including fasteners, wire products, wind towers, and prefabricated buildings, as part of its response.
加拿大
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IFE
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