Industry Minister Mélanie Joly announced that the Canadian federal government is in talks with Rio Tinto to provide cash flow assistance due to the United States' recently doubled global steel and aluminum tariffs (to 50%). The discussions began earlier this week. Rio Tinto employs 4,000 people in Saguenay–Lac-Saint-Jean, Quebec, and plans a $1.4-billion aluminum smelter. Quebec Premier François Legault is also expected to announce provincial support for the aluminum sector.
Ottawa talking to metals giant Rio Tinto about cash flow help amid U.S. tariffs
Business
AI Summary
TL;DR: Key points with love ❤️Industry Minister Mélanie Joly announced that the Canadian federal government is in talks with Rio Tinto to provide cash flow assistance due to the United States' recently doubled global steel and aluminum tariffs (to 50%). The discussions began earlier this week. Rio Tinto employs 4,000 people in Saguenay–Lac-Saint-Jean, Quebec, and plans a $1.4-billion aluminum smelter. Quebec Premier François Legault is also expected to announce provincial support for the aluminum sector.
Trending- 1 Last month: U.S. President Donald Trump doubled global tariffs on steel and aluminum to 50 percent.
- 2 Earlier this week: Ottawa started talks with Rio Tinto.
- 3 Thursday (July 3, 2025): Industry Minister Mélanie Joly announced the talks during a visit to Saguenay.
- 4 This afternoon (Friday, July 4, 2025): Quebec Premier François Legault is set to announce support for the province's aluminum sector.
- 5 July 21: Canada will deliver its response to the latest U.S. tariffs.
- Potential financial aid for Rio Tinto
- Ongoing trade tensions between Canada and the U.S.
- Impact on the Canadian aluminum sector
- Potential for Canada to retaliate with its own tariffs
What: The Canadian federal government is discussing cash flow assistance for Rio Tinto due to increased U.S. tariffs on steel and aluminum.
When: Discussions started earlier this week (July 1st-3rd, 2025). Industry Minister Mélanie Joly made the announcement on Thursday (July 3rd, 2025). U.S. President Donald Trump doubled tariffs last month. Canada's response to tariffs expected July 21. Quebec Premier François Legault to announce support this afternoon (July 4th, 2025).
Where: Ottawa, Saguenay, Quebec, Canada; United States.
Why: The U.S. doubled tariffs on steel and aluminum, causing cash flow problems for companies like Rio Tinto, prompting the Canadian government to consider support for the affected industry.
How: The Canadian government is engaging in talks with Rio Tinto to provide financial assistance.