Canada Considers Financial Support for Aluminum Producers Amid US Tariff Pressure
Canada is preparing potential financial measures to support its aluminum industry if the US maintains 50% tariffs on imports beyond the mid-term. Jean Simard, CEO of the Aluminium Association of Canada, confirmed early-stage discussions are underway as a contingency plan should trade negotiations fail by the July 21 deadline.
The tariffs, imposed by the TRUMP administration in June, threaten Canada's aluminum exports which account for 3.2 million tons shipped to the US annually—representing nearly half of America's imported supply. While Canadian producers currently face no liquidity crunch, prolonged tariffs could strain the nation's financial system.
Simard emphasized no decisions have been made, describing the support proposal as part of broader strategic discussions. The MOVE reflects Ottawa's effort to shield its industrial base amid escalating global trade tensions centered on domestic production incentives.