Canada to offer support to industries hit by U.S. aluminium and steel tariffs
Canada will announce an aid package worth between C$500 million and C$800 million to steel and aluminium companies affected by the U.S. metal tariffs, according to news published by Reuters. Foreign Minister Chrystia Freeland will make the announcement in Hamilton on Friday, 29 June 2018.
Chrystia Freeland will also reveal a list of the U.S. - made products that the country intends to subject to retaliatory tariffs, said a source familiar with the matter. These measures are a response to the tariffs Donald Trump imposed on Canadian aluminium and steel imports.
Companies like Evraz Plc, Rio Tinto Plc, Algoma Acquisition Corp [ALGMA.UL], Essar Steel Algoma Inc [ESSRGE.UL], ArcelorMittal SA and Alcoa Corporation have operations in Canada, Reuters reported.
The Canadian province of Quebec will also offer C$100 million ($77.1 million) in loans and guarantees to steel and aluminium firms hit by U.S. tariffs, the province’s economy minister said earlier this month.
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