Tradelines News

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Canada Eyes New Quotas, Tariffs to Halt Flood of Diverted Steel

(Josh Wingrove – Bloomberg)

Canada is considering both quotas and tariffs to stop a spike in imports of foreign steel being diverted from the U.S. by Donald Trump’s trade policies, the industry minister said.

Navdeep Bains, speaking by phone from the Farnborough International Airshow, said Justin Trudeau’s government is weighing so-called safeguard measures to curb the influx of cheap foreign steel and could expand the list of products as needed. It previously identified three – energy tubular, steel plates and rebar – but the minister said that was only a first step.

“We did that based on the data and the information that we have” Bains said Monday. “That by no means is the final list so we’ll look at what option, either tariff or quotas, that we need.” Click here to read more.


Commission Imposes Provisional Safeguard Measures on Imports of Steel Products (European Commission)

Bus Maker NFI Keeping ‘Brainy Jobs’ in Canada in Face of ‘Buy America,’ CEO Says (Bloomberg)