Ottawa plans to slash costs to send steel between provinces and territories for the next year in a bid to help domestic producers hit hard by tariffs.
Transportation Minister Steven MacKinnon is announcing a $100-million rebate plan today to pay back manufacturers for half the freight costs to send eligible steel products across the country by rail or marine shipping.
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The relief is meant to encourage companies that use steel in their manufacturing processes to turn to domestic suppliers rather than rely on the United States and other foreign suppliers.
Companies can apply for the rebates starting today and the program will run through to next summer or until the funding is entirely paid out.
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Only products that are Canadian in origin and have a destination within the country will be eligible for the rebate.
The federal government hinted in a news release that it’s also looking into similar supports for the forest sector as U.S. tariffs and shifting global trade flows hamper Canadian industries.