Canada officially announces one-year extension of steel and aluminum tariffs

The Canadian Department of Finance issued an announcement, officially announcing the extension of multiple tariff measures related to steel and aluminum products by one year, continuing to regulate the regional steel and aluminum trade markets. This extension policy includes two core components: first, extending the Steel Tariff Rate Quota (TRQ) system for non-USMCA member countries; and second, continuing the countermeasure tariff exemption plan for certain U.S. steel, aluminum products, and derivative products.

Currently, both measures await Cabinet approval, with validity periods extending to June 27, 2027, and June 30, 2027, respectively. Meanwhile, the Canadian government has simultaneously initiated subsequent policy optimization work, planning to introduce a new product tariff quota allocation scheme and will solicit public opinions from industry producers and importers to further improve the steel and aluminum import trade control system.