QUESTION PERIOD — Finance
Trade Tariffs
April 30, 2026
I’d like to go back to the economic update that the government tabled this week. It highlights a number of business assistance measures introduced following the tariff announcement to support the hardest-hit businesses, including businesses in the aluminum and steel sectors.
This week, business people expressed strong concerns about the U.S.’s new tariff calculation methodology, especially for aluminum and steel. Moving forward, a 25% surtax will now be applied to the price of products manufactured with steel and aluminum, rather than the 50% tariff on the metal components in the products. For example, tariffs on a semi-trailer worth $50,000 previously amounted to about $3,000 or $4,000, but now they will now be $12,500.
Will more steps be taken to support companies facing this new challenge?
I had a look at the statement that Quebec company Canam released about the numbers you just mentioned in your question.
The Government of Canada believes that these tariffs are entirely unjustified. Unfortunately, I can’t speculate about additional measures. However, it is clear to the Canadian government that these tariffs are unjustified. The government’s intention is to support all businesses unjustly affected by the tariffs, including aluminum, softwood lumber and kitchen cabinets. Some businesses have even been forced to close because of these unjustified tariffs. The government still intends to help businesses.
