Trade Tribunal finds subsidies and dumping of steel products causing harm

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The Canadian International Trade Tribunal says it has found there is a reasonable indication that dumping and subsidizing of some steel products by several Asian countries have harmed or could harm Canadian steel producers.

The tribunal says it found the People’s Republic of China, the Republic of Korea and the Socialist Republic of Vietnam all likely interfered in the market for cold-rolled steel in coils and strips.

The tribunal’s inquiry follows investigations by the Canada Border Services Agency on dumping and subsidies. The agency’s investigation continues and it will issue preliminary determinations by August 20.

The Liberal government invested the CBSA with additional powers in March to identify businesses that try to dodge import duties, as well as more flexibility to determine whether prices in countries of origin are reliable or distorted.

The federal government has taken extra steps to crack down on companies that try to ship cheap foreign steel and aluminum into Canada as U.S. tariffs on the metals have pushed companies to look to other markets.

U.S. President Donald Trump imposed tariffs of 25 per cent on imports of steel and 10 per cent on imports of aluminum, including from Canada, in an effort to boost domestic industries.



Source

Business News

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