The Canadian government has allocated $100 million to support the steel industry through a new initiative that covers half the transportation expenses for Canadian steel shipped by sea or rail within the country. Transport Minister Steven MacKinnon unveiled the Commodities Sectoral Support Program in Hamilton in response to U.S. tariffs imposed on Canadian steel, aluminum, and copper products, ranging from 10 to 50 percent.

MacKinnon emphasized the significance of the steel industry in Hamilton and across Canada, pledging to safeguard and enhance its prosperity. The program, starting today, will reimburse companies for 50 percent of the transportation costs for certified Canadian steel moved between provinces. It is set to run for a year or until the $100 million funding is depleted, with individual producers eligible for up to $50 million in rebates.

Regarding the program’s sustainability, MacKinnon hinted at potential extensions if the funding is exhausted before the designated timeframe. Conservative Leader Pierre Poilievre proposed extending the gas and diesel excise tax holiday and eliminating the industrial carbon tax to make steel transport more affordable.

The rebate initiative aligns with Prime Minister Mark Carney’s economic strategy to streamline domestic product shipping. Industry leaders like Ron Bedard of ArcelorMittal Dofasco anticipate significant industry benefits and improved access to Canadian steel nationwide. Jason Card from the Chamber of Marine Commerce lauded the program, recognizing its positive impact on the steel industry, supply chains, and the national economy.