Canadian steelmakers have voiced concern that recent government measures to shield the industry from the impacts of U.S. tariffs and global dumping are insufficient. At a meeting with Assistant Deputy Minister of Trade and Finance Patrick Haley, industry representatives warned that the current protections do not address the influx of low-cost steel from Europe and Asia, jeopardizing local competitiveness and potentially leading to job losses.
Canada had recently introduced new tariff quotas, limiting imports to 100% of the 2024 volume from countries without a free trade agreement. However, producers urged the government to apply restrictions even to countries with free trade deals if they are engaged in unfair trade. They argue that diverted steel shipments are flooding Canada as exporters seek to bypass U.S. barriers.
Amid these pressures, Canada plans to adjust countervailing duties on U.S. steel and aluminum by July 21 to reflect ongoing trade negotiations. In a bid to ease tensions with Washington, Canada also scrapped a tax targeting U.S. tech giants on June 29. This followed a warning from former President Donald Trump that such a levy would halt trade talks. Both governments now aim to reach a revised agreement by late July.
