Canada Steel Firms Say Tariff Response Risks Mass Layoffs (1)

A group of Canadian steel producers said the government’s plan to restrict foreign steel imports isn’t strong enough and warned that the industry is set to shed thousands more jobs because of US tariffs.

Prime Minister Mark Carney’s government introduceda new tariff-rate quota last week to limit imports of steel and said it may adjust tariffs on US steel products on July 21, depending on the status of trade talks with the Trump administration.

The US has increased tariffs on foreign steel and aluminum to 50%. So far, Canada has decided not to match that, keeping its retaliatory levies ...