Pittsburgh — Canada is opening a 15-day consultation period to look into the harm or threat of harm from steel imports to domestic producers, Finance Minister Bill Morneau said Tuesday.
Speaking to reporters at ArcelorMittal's Dofasco plant in Ontario, Morneau said the "unfair tariffs" levied by the US is causing other countries to seek alternative markets. The tariffs are putting Canada at risk for a "surge" of imports that may harm domestic Canadian steelmakers, he said in comments streamed live over the Internet.
The measures will be focused on seven steel categories, including steel plate, rebar, energy tubular products, hot-rolled sheet, pre-painted steel, stainless steel wire and wire rod.
Morneau said he understands that tariffs having "complicated" implications for different industry participants and hopes to better understand the situation through the consultation process.
The US levied 25% tariffs on imports of steel products from all but four countries. Canada, Mexico and the EU were granted temporary exemptions in March which were then terminated in June.
Canada followed with retaliatory tariffs against imports of US products, including steel, at the beginning of July.
