In response to concerns from Canadian steel manufacturers that the Canadian steel market will be flooded with cheap steel from countries other than the U.S. as a result of the tariffs, the Canadian government is considering using quotas and tariffs to protect the Canadian steel market.
- Facing ‘unprecedented threat’, steelmakers are pushing Ottawa for a trade safeguard that has never been used before
- Morneau launches consultations on safeguards to prevent steel flooding
While such measures would protect Canadian steel manufacturers, there is concern the safeguards will hurt the Canadian construction industry and increase the cost of construction.
This prompted the Canadian Construction Association to write to Canadian Finance Minister Bill Morneau expressing deep concerns about the proposal to impose steel and aluminum safeguards.
VRCA and CCA are continuing to monitor this file.