ibusinesslines.com March 18, 2018

Canada will not be back door to cheap offshore steel, Trudeau reiterates

13 March 2018, 11:29 | Erica Roy

Trudeau Floats Tariffs to Prevent Flood of Steel Through Canada

Trudeau told reporters in Quebec on Monday that it was a team Canada effort to convince the U.S. that duties on steel and aluminum should not apply to Canada

Trudeau said the national security argument the USA has made when it comes to considering tariffs for Canadian steel and aluminum makes no sense - a refrain he's hammered in recent weeks.

"(That would) ensure the vitality of United States and North American manufacturing industries and. protect the economic and national security of the United States".

His Foreign Minister, Chrystia Freeland, will be in Washington on Tuesday and Thursday to "advance Canada's efforts to keep trade open, fair and barrier-free, to benefit people on both sides of the border", her ministry said in a statement.

Canadian steel facilities can't compete fairly against countries that choose "to sell at a loss in order to control the market", he said.

The Trump administration has set tariffs of 25 per cent on steel and 10 per cent on aluminum, applicable to every country except Canada and Mexico.

Mr. Trump has stated that the tariffs could be extended to two NAFTA partners if Canada and Mexico do not bend to USA demands in the renegotiation of that trade agreement.

"He always has with me", Trudeau said.

A heavy lobbying blitz by Canada after the tariffs were first announced March 1 helped convince the US administration to exempt Canadian steel when the final announcement was made last week.

Trudeau is also brushing off the idea that Canada might be bullied into a deal. He also credited Trump for keeping a promise: he said the president told him at last year's G7 that Canada would get an exemption, and kept his word. Canadian aluminum is in your fighter jets.

Trudeau accused China of flooding global markets with cheap steel on Monday, saying Canada has already taken steps to prevent "dumping".

The steel tariff investigation was launched to see the impact of steel imports on USA national security.

Later, at a roundtable with industry leaders, he spoke again of the importance of steel to Hamilton, but said he was there to listen.

Steel makers in Canada are pressing the federal government to make sure Canada doesn't become a dumping ground for offshore steel originally destined for the USA market.

"There is no better security partner to the United States than Canada is so that whole issue of national security is off the table".

"Canadian steel is in your tanks", Trudeau said on CNN.

But the USA government also wants to make sure cheap steel being dumped into North America by Brazil, South Korea, China and other countries doesn't enter the United States through a Canadian back door.

Other News

Trending Now

Will Everyone Die in Game of Thrones Season 8?
Adding that HBO are "going big" with their plans for the series ', she said they are keen to make sure the spin-offs live up to the original.

Matt Damon And Ben Affleck commit to inclusion riders after Oscars appeal
Matt Damon and Ben Affleck have agreed that inclusion riders will be a part of all their future Pearl Street production deals. Fanshen Cox DiGiovanni made the announcement on Monday night via Twitter at the South by Southwest Film Festival.

3 Criteria for Choosing Software Development Company in Europe
Pricing vs quality If you’re looking for an outsourcing services partner, prices are one of the features that matter to you. Do you find it difficult to choose a professional software development company in Europe? There shouldn't be any problems.

Former Clemson star Sammy Watkins to sign with new National Football League team
Watkins initially entered the National Football League with the promise of being one of the game's best receivers. Perhaps only now, in his absence, will the Rams learn the true value of receiver Sammy Watkins.

GOP senator wants Trump to face 2020 primary challenge
Sen. "The tax bill was so massive, bigger than [Ronald] Reagan, biggest one done", Trump said. "We just want fairness", he added. But Flake maintained that tariffs will make things worse, not better, for Americans and the USA economy, reports CNBC News.

Tata Sons to sell 1.48% stake in TCS, raise Rs8,500 cr
The money raised from the stake sale will be used by Tata Sons to strengthen its balance sheet, reports added. The Group is clearly in a hurry to exit its troubled mobile telephony business.

North Korea, South Korea Refuse To Walk Together At Paralympics
Forty-eight different nations, plus a neutral Paralympic athletes team consisting of Russian competitors, entered the stadium in -5C temperatures.