Canada launches $100 million aid to subsidize half of domestic steel transport costs
The federal government unveiled a $100 million scheme that will reimburse 50 % of interprovincial rail and water shipping expenses for Canadian-made steel for up to one year.
In Hamilton, Transport Minister Steven MacKinnon revealed a $100 million federal program designed to offset 50 percent of the expense of shipping certified Canadian steel by rail or water within the country. The Commodities Sectoral Support Program responds to recent U.S. duties ranging from 10 to 50 percent on Canadian steel, aluminum and copper products. Eligible firms can claim rebates up to $50 million each, with the scheme lasting one year or until the allocated funds are depleted, after which an extension could be contemplated.
The measure aligns with Prime Minister Mark Carney’s strategy to strengthen the Canadian economy by reducing internal logistics costs. Ron Bedard, president and CEO of ArcelorMittal Dofasco, described the assistance as having a "tremendous" impact on the industry and benefiting every province. MacKinnon indicated the government will monitor uptake and adjust the program as necessary.
Why it matters
Lower shipping costs aim to keep Canadian steel competitive amid U.S. tariffs, supporting jobs and regional economies.
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