Canadian Steel Producers Association: "Steel imports have doubled in the past decade, immediate implementation of possible import regulations needed."
Amid the Biden administration's announcement of increased tariffs on Chinese steel and aluminum products ahead of the U.S. presidential election, Canada is also showing signs of strengthening import regulations.
The Canadian Steel Producers Association (CSPA) recently issued a statement, urging, "The current Canadian steel industry is facing difficulties such as supply chain disruptions due to the increase in low-priced imports from China and other countries. The Canadian government must prepare precise countermeasures, just like the U.S. government, to protect and develop the domestic steel industry."
Katherine Cobden, President of CSPA, stated, "To protect the domestic steel sector and supply chain, it is important to strengthen the trade protection system through new tariffs and additional import regulatory measures combined with stricter laws, and to introduce new tools to prevent the increase in low-priced steel imports from China and other countries."
President Cobden argued, "In Canada, steel imports have doubled in the past decade, an unprecedented level. Despite anti-dumping measures, the continued increase in steel imports is placing a significant burden on the economy by reducing investments in the Canadian steel industry and decreasing jobs."
According to CSPA, steel-producing countries in the Indo-Pacific region have currently implemented 52 trade measures to regulate steel imports, 18 of which directly target Chinese steel.
While import regulations targeting Chinese steel are expected to expand in the future, China was one of the top three steel importers to Canada last year, exporting 660,000 tons.
President Cobden emphasized, "To address the issue of Chinese steel imports, CSPA urges the Canadian government to immediately consider comparable tariff approaches and to develop trade tools such as retrospective assessments of unfair imports and the use of alternative trade protection tools like specific market situation methodologies. Additionally, just as the U.S. has recently strengthened regulations on circumvented imports via Mexico, Canada should also tighten regulations on circumvented imports."
Meanwhile, the local steel industry in Canada anticipates that the increase in anti-dumping tariff rates will be implemented relatively quickly due to the weakening of the domestic manufacturing base caused by the increase in low-priced steel imports from Asia, including China.
Tags
STEEL
