Government Takes Steps to Prevent Import of Cheap Steel Products

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In an attempt to protect Canada’s steel industry from import surges that may harm Canadian producers, Finance Minister Bill Morneau launched a public consultation process today on possible safeguard action on imports of a number of steel products.

“The Government will always stand up for Canadian workers and Canadian businesses, and that means taking action to counter unfair trade practices when merited. International trade unquestionably strengthens Canada’s economy, but it must be fair and open, and it must result in growth that works for everyone.”  Morneau said to today in Hamilton, prior to a meeting with local business leaders.

The business roundtable, hosted by ArcelorMittal Dofasco, is part of a series of meetings the  Minister is holding across the country to help inform the Government’s responses to immediate challenges and to support ongoing efforts to grow the economy over the longer term.

Terry Sheehan, MP said “The Finance Minister’s announcement today is another example of how this Government continues to stand up for steelworkers and the steel industry in this Riding and across Canada.”

The steel products included in the process are; Steel plate, Concrete reinforcing bar, Energy tubular products, Hot-rolled sheet, Pre-painted steel, Stainless steel wire, Wire rod.

Safeguards are trade measures imposed under international trade rules in exceptional circumstances to respond to import surges that may harm Canadian producers and workers.

The Government will continue to work with stakeholders to determine if additional products may be considered for safeguard action, and is committed to applying additional safeguards where circumstances warrant their application, in accordance with Canada’s international trade obligations.

Comments regarding possible safeguard action can be submitted to the Department of Finance Canada at fin.simaconsult-lmsiconsult.fin@canada.ca until August 29, 2018.

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