Madam Speaker, we know that our steel industry is essential to the Canadian economy and to national security. In Sault Ste. Marie, it supports thousands of workers, families and local businesses. That is why our government announced $5 billion through a joint steel action fund with Ontario to help Canadian steel companies diversify product lines, access overseas markets and strengthen domestic demand through our buy Canadian policies.
We are continuing to strengthen protections against unfair steel imports and are establishing a special task force to improve competitiveness and address shipping costs. Our government is also investing $1 billion into the Ring of Fire, helping unlock one of the richest critical mineral supplies in the world, located in northern Ontario.
This government is standing up for Canadian steel and northern Ontario and is supporting our workers so that Sault Ste. Marie—Algoma can play a key role in building Canada strong. In fact, Algoma Steel said, “This is exactly the kind of decisive, coordinated action our industry needs at a time of unprecedented trade pressure.”