Canada is Rolling Out 25% Tariffs on Steel Imports

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October 12, 2018 by   Leave a Comment

The Canadian government will impose 25% tariffs on steel imports starting Oct. 25 in a bid to protect its domestic industries from the impact of the tariffs imposed by the Trump administration. The Washington Examiner reported the move comes as both countries are tentatively discussing exempting Canada from the U.S. tariffs.

“As part of its ongoing efforts to stand up for Canada’s steel industry and support Canadian workers and businesses, today the Government of Canada is announcing further steps to prevent diversion of foreign steel products into Canada, and provide relief to steel and aluminum users in specific circumstances that are paying for countermeasures on certain products imported from the United States,” the Canadian Department of Finance said in a statement late Thursday.

The tariffs will apply to seven products: heavy plate, concrete reinforcing bars, energy tubular products, hot-rolled sheet steel, pre-painted steel, stainless steel wire, and wire rods. The tariffs will be applied “in cases where the level of imports from trading partners exceeds historical norms.” Canada initially launched the process to create the tariffs in August.

The Trump administration officially instituted its 25% tariff for steel imports in March. The administration initially granted exemptions to Mexico and Canada. Those were revoked earlier this year in order to pressure both countries to make concessions for the eventual U.S.-Mexico Canada Agreement on trade.

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