Aluminum steel rolls. Credit: Canada West Foundation
Prime Minister Mark Carney on Wednesday said Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry.
A 50% tariff will apply to imports from these countries that surpass the 2024 volumes, though Canada will honor existing arrangements with its United States-Mexico-Canada Agreement trade partners, Carney said.
Canada will implement additional tariffs of 25% on steel imports from all countries containing steel melted and poured in China before the end of July.
Carney is responding to complaints from the domestic industry, which had said that other countries are diverting steel to Canada and making the domestic industry uncompetitive due to US tariffs.
The Canadian steel industry had asked the government to introduce tougher anti-dumping…
