The Globe and Mail reports in its Thursday edition that Innovation Minister Mélanie Joly is promising a new industrial era for Canada, with a strategy to defuse U.S. economic threats. The Globe's Robert Fife writes that Ms. Joly told The Globe that the country's auto, steel, aluminum, copper and lumber sectors are under siege. The government needs to aggressively respond to the Trump tariff shocks with a detailed plan to transform the Canadian economy through targeted investments, fast approvals of major projects and harnessing Ottawa's purchasing power, she said. "Like every single country on Earth that is affected by the decisions of the American country, we need to be able to come up with a new vision on how we will deal with our own economy," Ms. Joly said. "We need to de-risk a lot of the sectors that are being tariffed. So in the short term, we need to protect the market, but in the middle term we need to make sure they can pivot" to new products and markets, she said. The feds have, for example, provided $400-million to help Algoma Steel shift its production to serve the Canadian market as well as $1.25-billion to support the softwood lumber sector, which has been severely affected by rising U.S. tariffs.
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