Good afternoon, everyone. Hello, everyone. This week, Canada hosted the G7 summit in Kananaskis, Alberta. And as Chair, I focused on strengthening international partnerships with leading nations around the table to find areas of cooperation on shared priorities.

Once again, the whole world saw the value of this forum. There were many frank and open discussions among the nations that shape the global economy. We reached an agreement to build stronger economies by making the world safer, promoting energy security and fostering partnerships of the future. We left Kananaskis with new opportunities for Canada on critical minerals with other countries, on artificial intelligence, on supply chains, trade and much more.

Now, Canadian leadership will be defined not just by the strength of our values, but also by the value of our strength. The world wants to do much more, much more and work much more closely with Canada and we're ready. Now, on Monday morning, I with colleagues met with President Trump to discuss international priorities as part of the G7, but also to further negotiate a new economic and security partnership between Canada and the United States. And as we've said repeatedly, we'll take all the time we need to get the best deal for Canada, but no longer. And seeing progress that’s been made, President Trump and I agreed to pursue negotiations towards a deal within the coming 30 days. We'll continue these negotiations, of course, in good faith. In parallel, we must reinforce our strength at home and safeguard Canadian workers and businesses from the unjust U.S. tariffs that exist at present. And that's why we're announcing that Canada will be introducing a series of countermeasures to protect Canadian steel and aluminum workers and producers. And there's several, and I'm going to list them. First, Canada will adjust its existing counter tariffs on U.S. steel and aluminum products on the 21st of July, at the end of that 30-day period in other words. We're going to adjust them to levels consistent with the progress that's made at that point on the broader trading arrangements with the United States. Secondly, we will implement reciprocal procurement rules ensuring that only Canadian producers and producers from trading partners that provide Canada with tariff-free, reciprocal access through trade agreements can compete for federal government procurement of steel and aluminum.

Third, the government will establish new tariff quotas of 100% on 2024 import levels of steel products from countries to stabilize the Canadian market and prevent harmful trade diversion following the actions taken by the United States. These quotas will be applied reactively and will be reviewed within 30 days. Fourth, the government has adopted additional tariff measures in the coming weeks to address the risks associated with persistent global overcapacity and unfair trade in the steel and aluminum sectors, which are exacerbated by the U.S. measures. The Canadian measures will apply according to the principle of country of melt and pour for steel and country of smelt and cast for aluminum.

The Government of Canada will also review its remission framework for automobiles to favour the use of Canadian steel and aluminum in Canadian-made products. And finally, we're creating two government stakeholder task forces—one for steel, one for aluminum—to monitor trade and market trends, and to better support government decision-making and workers going forward. We remind that the $10 billion large enterprise tariff loan facility remains open to help affected businesses access the liquidity they need and to return to financial resilience as the market stabilizes. In short, the government is responding to the impact of the unjust U.S. tariffs with multiple tools. We will review our response as the negotiations progress. I'll be meeting with the premiers of the provinces and territories tomorrow to discuss this response and our broader coordination going forward. The next week, I will attend the Canada EU Summit, as well as the NATO summit, as part of Canada’s new government's mission to strengthen and build security and economic partnerships with reliable partners. And this week, in this House, Parliament has the opportunity to pass the core of our domestic economic response, the One Canadian Economy Act. Because together, we as Canadians can give ourselves far more than the Americans can ever take away. Steel and aluminum workers are on the front lines of this trade crisis. These are the workers who will help us build one strong Canadian economy, the strongest economy in the G7.

So we will protect them and their families, and we will do so with urgency and determination