Prime Minister Mark Carney unveils support package as Ottawa responds to sweeping new U.S. trade measures.
Canadian Prime Minister Mark Carney has announced aid for lumber and steel producers affected by U.S. President Donald Trump’s 50% tariffs. The move aims to cushion key industries from escalating trade tensions.
Canadian Prime Minister Mark Carney has rolled out a support program for the country’s lumber and steel sectors after the United States imposed steep 50% tariffs under President Donald Trump. The measures target some of Canada’s most important export industries, raising fears of job losses and plant closures in communities that rely heavily on cross-border trade.
Ottawa’s response includes financial assistance, loan guarantees and funding for modernization projects intended to help companies stay competitive in the face of higher U.S. barriers. Officials say the package is designed to protect workers while giving industry time to diversify markets and upgrade technology.
Business groups have welcomed the aid but warn that prolonged trade friction could still undermine investment and long-term planning. Some are pushing for renewed diplomatic efforts to negotiate carve-outs or revised terms that would ease the tariff burden on Canadian exporters.
The dispute underscores how quickly trade relationships between close allies can shift, and how vulnerable regional economies are to abrupt policy changes in Washington. Analysts say the outcome could shape future debates over industrial policy, trade diversification and Canada’s broader economic strategy.
