Yesterday, the Deputy Minister of Finance, Chris Forbes, hosted a briefing with Canadian industry and labour stakeholders on Canada-United States (U.S.) economic issues.
The Deputy Minister outlined the measures announced last week to support and protect Canada’s steel and aluminum workers and industries. The government will adjust its existing counter-tariffs on steel and aluminum products on July 21, to levels consistent with progress that has been made in the broader trading arrangement with the U.S.
The Deputy Minister reiterated that the government will also
- limit access to federal procurements to suppliers from Canada and reliable trading partners that provide reciprocal access,
- establish new tariff rate quotas to stabilize the domestic market and prevent harmful trade diversion of steel products as the result of U.S. actions,
- create government-stakeholder task forces to better support the steel aluminum industries and their workers, and
- adopt additional tariff measures on the basis of “country of melt and pour” for steel and “country of smelt and cast” for aluminum over the coming weeks to address overcapacity and unfair trade in these sectors.
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