Canada to impose steel safeguards after U.S. tariffs

NBN Business News
NBN Business News

TORONTO (Reuters) – Canada will impose new quotas and tariffs on imports of seven categories of steel from all countries, the federal government said on Thursday, fresh measures to head off a potential rise in imports as overseas steelmakers shut out of the United States seek new customers.

FILE PHOTO: A worker walks by rolled up steel sits in the ArcelorMittal Dofasco steel plant in Hamilton, Ontario, Canada, March 13, 2018. REUTERS/Mark Blinch/File Photo

A tariff of 25 percent will apply starting Oct. 25, 2018 to imports “in cases where the level of imports from trading partners exceeds historical norms,” the government statement said.

The products covered include heavy plate, concrete reinforcing bar, energy tubular products, hot-rolled sheet, pre-painted steel, among others.

Reporting by Allison Martell; Editing by Sandra Maler

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