Ottawa unveils $100M steel shipping rebate program as trade war continues
The relief is meant to encourage companies that use steel in their manufacturing processes to turn to domestic suppliers rather than rely on the U.S. and other foreign suppliers.
Ottawa has unveiled a $100 million steel shipping rebate program amid ongoing trade tensions, aiming to alleviate the financial strain faced by domestic steel producers. Transportation Minister Steven MacKinnon announced the initiative today, offering to reimburse manufacturers for half the freight expenses incurred when shipping eligible steel products via rail or marine shipping across provinces and territories.
The rebate is intended to spur companies utilizing steel in their manufacturing processes to prioritize domestic suppliers over foreign alternatives, primarily the United States and other international sources.
Manufacturers can begin applying for the rebates immediately, with the program set to continue through the summer of next year or until all allocated funds have been distributed, whichever comes first. The eligibility criteria stipulate that only steel products originating from Canada and destined for domestic use will qualify for the rebate.
While the federal government has not explicitly disclosed plans for additional assistance to the forest sector, it has acknowledged the challenges posed by U.S. tariffs and evolving global trade dynamics on Canadian industries.
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