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Stock impact report

Carney government to announce measures to protect steel industry: sources [BNN Bloomberg (Canada)]

Canadian National Railway Company (CNI) 
Last canadian national railway company earnings: 4/27 04:01 pm Check Earnings Report
US:NYSE Investor Relations: cn.ca/en/investors
Company Research Source: BNN Bloomberg
The measures, first reported by the Toronto Star, include cutting limits to the amount of steel that can be imported into the country from nations that do not have a free trade agreement with Canada. That amount will drop from 50 to 20 per cent, according to a senior government source with knowledge of the announcement. The measure could allow Canadian steel producers to take market space worth approximately $854 million, according to the senior source. The federal government is expected to announce it will help steel producers by cutting shipping costs by 50 per cent for moving product within Canada. Ottawa will work with the Canadian National Railway (CN) to lower freight costs, and if the lowest rate cannot apply, the federal government will help pay the difference, the source told CTV News. More financial aid for steel companies and workers is also expected in tomorrow's announcement, according to the source. The move to protect the industry comes as both steel and alumin Show less Read more
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