Canadian Steel Producers Respond to Government of Canada's Plan for our Industry
"Canadian steel producers face a dire situation. The unjustified tariffs by the United States have delivered a significant blow to our industry. Initially set at 25% and adjusted to 50% on June 4 th, these tariffs are devastating. The US was a destination market for 6.5 million tonnes of Canadian steel. Consequently, we have significantly dropped shipments and have experienced close to one thousand job losses to date and are preparing for thousands more.
"Last week, the Canadian government announced a package of new and future measures to address the steel sector's concerns. While we appreciated their willingness to act, we are concerned that the immediate measures fail to address the crisis we are in.
"A newly proposed border measure – a tariff rate quota (TRQ) – has been announced that will continue to allow high levels of foreign steel into our country tariff-free. The industry had asked repeatedly for significantly lower import levels on unfair traders to regain market share at home. We believe it is long overdue to expect a rules-based trading environment within Canada. In its current form, the TRQ will do little to support our industry.
"While our sector applauds the proposal for additional measures to fight global overcapacity with our melted and poured policy, the government's plan to implement these only in the coming weeks is at odds with the extreme urgency we are feeling."
"The government has set a 30-day deadline for a new economic and security relationship with the United States. We appreciate the government's plan to reinstate a strong counter tariff package on the US depending on how those discussions progress. It remains a fact however that significant volumes of US steel continue to enjoy the privilege of entering Canada tariff-free while we face a 50% tariff that has essentially closed the US market to the Canadian industry.
"It is encouraging to hear renewed commitments to use steel in future public projects where this is feasible. This is a laudable long-term objective. However, without the right border actions, our steel producers will be unable to contribute to projects around our country because we will be a significantly reduced and weakened industry.
"The government has committed to review the elements of this plan in 30 days. It is our sincerest objective to work with the government constructively to find a path forward that supports our country and our industry as quickly as possible."
About the Canadian Steel Producers Association
The Canadian Steel Producers Association (CSPA) is the national voice of all primary steel producers and some of the country's largest steel consumers. Our 17 members supply the essential materials to key sectors such as automotive, energy, construction, and transportation—driving jobs and economic growth across North America. The CSPA advocates for a competitive and sustainable business environment that strengthens the steel sector and its supply chains.
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"Affordability continues to play a huge role in Greater Vancouver and the Fraser Valley, with the greatest activity occurring between $1 million and $1.5 million," says Hill. "For buyers looking to establish a foothold in real estate, communities such as Squamish and Bowen Island offer the best of both worlds–close proximity to the city against a recreational backdrop, while Mission's picturesque landscape is a draw for those looking to get into the market at the million-dollar mark." Median price appreciation was evident in the first six months of 2025 in five markets, including Bowen Island, up 9.1 per cent ($1,500,000 in 2025 compared to $1,375,000 in 2024); Delta-South, up one per cent ($1,509,523/$1,494,000); Squamish, up 7.6 per cent ($1,690,000/$1,570,000) ; West Vancouver/Howe Sound at 2.6 per cent ($2,998,000/$2,922,200); and Whistler/Pemberton at 12.1 per cent ($2,663,500/$2,350,000). Mission was the sole market to report a nominal increase in average price in the Fraser Valley, rising 0.7 per cent to $1,052,454 in the first six months of 2025, compared to $1,044,946 in 2024. "Buyers now have the advantage of time and are working closely with lenders to ensure a seamless home-buying process," says Kottick. "Some are still awaiting further announcements from the Bank of Canada regarding interest rate cuts. Should those materialize, we could see the full impact of pent-up demand. The U.S. trade situation continues to weigh on economic performance, and we can expect an air of caution to linger until a trade deal is struck. In the meantime, moves toward economic transformation and diversification bode well for Canada's future. As such, the back half of 2025 should see recovery underway and a resumption in price growth in a number of major and micro markets." Other trends in the market include: Greater sales at affordable price points. In the Greater Toronto Area, homes priced from $850,000 to $1.2 million in key microcosms are moving quickly, while sales in the $1 million to $1.5 million price point in Vancouver and the Fraser Valley are most active. Year-round living in more recreational areas. Purchases in more recreational markets such as Bowen Island, the Gulf Islands, Squamish and the Sunshine Coast continued in the first six months of 2025. Rental suites still in demand. Buyers continue to offset mortgage costs by renting out suites within their homes. Luxury market less impacted. Buyers at this price point continue to make their moves, regardless of market conditions, as evidenced by rising values in the Bridle Path, Rosedale, and West Vancouver. In the first six months of the year, 11 properties changed hands over the $10 million price point in the GTA, up considerably over the four property sales reported during the same period in 2024. "Price, quality, time—consumers are often told to pick two, because it's very rare to realize all three," says Kottick. "In real estate, it's the perfect trifecta. This may be one of the very rare windows of opportunity where active buyers could now reap the benefits of all three. It's an anomalous event from a historical real estate perspective to have ideal conditions in each these pivotal variables. It's not only rare; it's fleeting. As rebounding home sales gain momentum, the alignment will inevitably shift." Regional Overview Greater Vancouver and the Fraser Valley While economic uncertainties have curtailed homebuying activity throughout the first six months of the year, an uptick in sales in recent weeks suggests the Greater Vancouver, and to a lesser extent, Fraser Valley markets are beginning to show signs of recovery. Buyers are cautiously re-entering the detached housing market, making offers despite not having sold their current homes—and including "subject to sale" clauses to mitigate risk. Surprisingly, sellers are adapting to the new strategy, often allowing 30-days with a trigger clause that stipulates that if another offer is presented during that time, the buyer has 24 to 72 hours to commit or lose the property. As a result, nearly four in every ten properties are sold or under contract (with offers subject-to-sale). The lion's share of detached activity is occurring in the $1-million to $1.5-million price range, but lower rates and greater stability in the weeks and months ahead will serve to further rouse the market. Balanced market conditions currently exist, with some areas approaching buyer's market territory. After years of tight market conditions, the ability to view a plethora of homes and take more time to make decisions will ultimately provide a healthier backdrop for homebuying activity in the immediate future. Greater Vancouver communities such as the Sunshine Coast, Squamish, Port Moody/Belcarra, the Gulf Islands and Bowen Island remain popular with buyers, with all reporting an uptick in detached housing sales in the first six months of 2025. Five markets in Greater Vancouver, including Bowen Island, Gulf Islands, Port Moody/Belcarra, Squamish, and the Sunshine Coast have experienced an increase in median prices, while average values have climbed in Fraser Valley's Mission area. Detached properties are the strongest segment of the market—with most selling if they are well-priced. Rental suites are increasingly important to younger buyers entering the market as they look to offset hefty mortgage costs. Most buyers are professionals with ample savings for a solid downpayment on the properties they purchase. The current real estate market presents a unique opportunity for buyers. Moving into the traditional fall market, lower interest rates and increased economic stability will help propel greater homebuying activity, with the resilience of both buyers and sellers shaping the market. The window of favourable conditions will make this one of the best years in recent memory to invest in a home. Greater Toronto Area While overall housing sales in the Greater Toronto Area (GTA) have declined compared to year-ago levels, demand for detached housing continues to bolster the market, with the segment representing nearly half of total sales. First-time buyers have been driving detached sales in recent weeks, spurred by the increase in May's average price, with many realizing that as detached property values rise, the window of opportunity is closing. Certain microcosms within the Toronto market — including Leaside, East York, Riverdale, Trinity-Bellwoods, High Park, Davisville, and Little Italy — are experiencing healthy activity in the $850,000 to $1.2 million price range, with some properties selling in multiple offers. Average days on market in the central core, for instance, was considerably less than the overall average at this price range, with most homes moving within 19 days during the first six months of the year. The market for homes priced between $1.8 million and $2.2 million is also solid across the city, particularly in established traditional neighbourhoods. In essence, the delayed spring market has finally arrived. Interest appears to be piquing with more listing views, more showings, and more offers. However, the buyer mindset has two settings — deal or no deal. They're prepared to walk if the seller is unreasonable. Sellers, on the other hand are prepared to hold firm or, in more dire circumstances, end up setting new benchmarks for prices in their neighbourhood. Pent-up demand remains contained, as a result, at least until one or two more interest rate cuts can really stimulate activity. The swing market, encompassing properties priced between $2.8 million and $3.3 million, has been the most affected during this challenging period. Listing inventory is high at the entry-level to the luxury price point and sales are few and far between. Conversely, the luxury market, priced around $3.8 million to $4 million, has been less impacted, as purchases in this range are often driven more by desire than necessity. Greater Toronto Area's housing market is navigating a complex landscape marked by varying levels of demand across different price segments. The delayed spring market — finally materializing in June — has injected new energy, with increased interest and activity, although buyers remain cautious and sellers steadfast. As external factors such as interest rate cuts and easing trade tensions come into play, GTA market's dynamics may shift, potentially unlocking pent-up demand and fostering a more balanced environment. Durham Region Rapid population growth has contributed to strong homebuying activity over the past decade in Durham Region, but buyers have pulled back in 2025 given hesitation in the market attributed to overall economic uncertainty and concerns over Canada-U.S. trade negotiations. Affordability has been a major draw for buyers to the area in recent years, with single-detached properties often priced well under homes in the 416-area code. This year, however, the number of properties that have changed hands is down by 20 per cent and more throughout the region, while average prices are holding relatively stable. At least two markets have reported values on par or ahead of 2024 levels in the first six months of 2025 including Brock, a small rural market, equalling year-ago values for detached homes, while Scugog, with its luxury rural properties, posted an increase of over seven per cent in the first six months of the year. Buyers have started to trickle back into the market given healthier market conditions that are more reminiscent of yesteryear. An ample supply of detached housing is available throughout the region, and buyers are taking their time viewing homes listed for sale — without the urgency present in the pandemic/post-pandemic period. With current market conditions expected to persist throughout the coming months, the outlook for detached home sales in the Durham Region is best characterized as "slow and steady." Detached home sales are expected to come close or slightly surpass levels reported in 2024, while average price in Durham Region is anticipated to move marginally ahead of year-ago figures. About the RE/MAX Network As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in over 9,000 offices with a presence in more than 110 countries and territories. REMAX Canada refers to REMAX Canada, Inc., which is an affiliate of RE/MAX, LLC. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network Hospitals ® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit For the latest news from RE/MAX Canada, please visit Forward looking statements This report includes "forward-looking statements" within the meaning of the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "believe," "intend," "expect," "estimate," "plan," "outlook," "project," and other similar words and expressions that predict or indicate future events or trends that are not statements of historical matters. These forward-looking statements include statements regarding housing market conditions and the Company's results of operations, performance and growth. Forward-looking statements should not be read as guarantees of future performance or results. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include (1) the global COVID-19 pandemic, which has impacted the Company and continues to pose significant and widespread risks to the Company's business, the Company's ability to successfully close the anticipated reacquisition and to integrate the reacquired regions into its business, (3) changes in the real estate market or interest rates and availability of financing, (4) changes in business and economic activity in general, (5) the Company's ability to attract and retain quality franchisees, (6) the Company's franchisees' ability to recruit and retain real estate agents and mortgage loan originators, (7) changes in laws and regulations, (8) the Company's ability to enhance, market, and protect the RE/MAX and Motto Mortgage brands, (9) the Company's ability to implement its technology initiatives, and (10) fluctuations in foreign currency exchange rates, and those risks and uncertainties described in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and similar disclosures in subsequent periodic and current reports filed with the SEC, which are available on the investor relations page of the Company's website at and on the SEC website at Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Except as required by law, the Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
Winnipeg Free Press
an hour ago
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Parliamentary interpreters sound alarm over coming changes to procurement rules
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