Ottawa invests $100M in steel, aluminum SMEs across Canada
Manufacturers and users will get non-repayable contributions for productivity and technology projects.
OTTAWA — The Liberal government in Ottawa is offering steel and aluminum SMEs and users impacted by US tariffs on the metals $100 million in funding.
The Trump Administration in Washington imposed tariffs of 25% on steel and 10% on aluminum imports from Canada and other countries claiming they were a threat to national security.
The initiative will provide manufacturers and users across Canada with non-repayable contributions for projects that enhance productivity and apply advanced technologies that will help them scale up and find new markets. It’s expected to support approximately 300 companies.
In 2017, Canada’s steel and aluminum industry employed more than 33,500 Canadians and contributed $8.9 billion to Canada’s gross domestic product.