Canada Lifts Tariffs on Select Steel, Aluminum

The Canadian government rolled back some retaliatory tariffs, lifting or exempting certain U.S. and Chinese steel and aluminum products to protect supply chains and ease costs for downstream industries. The Finance Ministry’s remission order is effective Oct. 15 and will be publicly documented, with further details scheduled for publication on Nov. 5. The remissions target products not produced in Canada and specific U.S. goods tied to public health, national security, manufacturing, agriculture and food packaging, and the government also announced temporary extensions of exemptions for goods used in manufacturing, processing, food and health sectors. Finance Minister François-Philippe Champagne said the measures are targeted to protect downstream sectors and should have limited impact on counter-tariff revenue. A Bank of Canada survey found business confidence, investment and hiring remain subdued, and industry groups have criticized the exemptions as too limited for many firms.