US-Canada Trade Deal to Include Steel Quotas, 25% Lower Tariff

The shift from broad tariffs to a quota-plus-lower-tariff structure signals a managed-trade compromise rather than a return to open flows, which matters for anyone tracking North American industrial input costs. Steel is a core input for construction, autos and energy infrastructure, so the terms set here can ripple into broader cost structures. The open question is whether this template extends to other metals and sectors in the wider negotiation.