Canada has launched a C$100 million program covering 50 percent of the cost of transporting certified Canadian-made steel between provinces and territories by rail or marine freight. Announcing the measure in Hamilton, Canadian transport minister Steven MacKinnon said the new program called Commodities Sectoral Support Program directly responds to US tariffs on Canadian goods and underlined that the government would defend the strategically important domestic steel industry.
The program will operate for one year or until the funding is exhausted, while each eligible shipper may receive up to C$50 million. Mr. MacKinnon indicated that the government could consider adjustments if the funds are depleted early, depending on participation.
Industry welcomes Canada's steel freight support
According to local media reports, Ron Bedard, president and CEO of Canadian steel producer ArcelorMittal Dofasco, stated that the measure would have a “tremendous” impact by providing projects nationwide with lower-cost access to Canadian steel. The Chamber of Marine Commerce also welcomed the program, saying it would facilitate steel movements, strengthen supply chains and support the national economy.
