Key facts
- Canadian steelmakers are pivoting to domestic demand amid US tariffs.
- Domestic steel production share rose to 51% in 2025.
- US tariffs on Canadian steel increased to 50% in June 2025.
- Government provided C$1 billion in loans and extended import quotas.
Canadian steelmakers are navigating the impact of US tariffs by focusing on domestic demand, driven by projects in mining, energy, and AI data centers. The US increased tariffs on imported steel to 50% in June 2025, causing a 60% drop in Canadian exports to the US and leading to significant layoffs. However, the domestic market share for Canadian steel rose to 51% in 2025 from 41% in 2024, according to the United Steelworkers union. The Canadian government has provided C$1 billion in loans and extended import quotas to support the industry. Companies like Supreme Steel, Tenaris, and Algoma are adapting by prioritizing Canadian customers and projects.