The Canadian Steel Producers Association (CSPA) applauded the passage of the Canadian federal budget, which includes several measures that aid their domestic steel industry.
The Canadian Steel Producers Association expressed dismay upon the news that the Trump administration had added over 400 products to the list of derivative products covered by the 50% Section 232 tariffs on steel and aluminum.
The Canadian steel industry is bracing for thousands of job losses because of US tariffs, the Canadian Steel Producers Association says.
CSPA, USW disappointed in Canadian government's actions on steel.
“It is completely shocking for the United States to treat a long-time and fair trading partner in this manner,” the Canadian Steel Producers Association said.
While American steelmakers welcome the revival of the Section 232 tariffs on steel and aluminum imports, other nations' steel industries are calling for retaliation against President Trump's unilateral action of upping the levies on trading allies and removing all product exemptions.
It feels a little like déjà vu: Trump threatens tariffs, Canada retaliates with tariffs of its own.
The Canadian government estimates steel and aluminum imports from China will decrease by nearly 50% due to newly implemented tariffs.
American and Canadian steel trade groups, as well as the government of Mexico, have responded to President-elect Trump's threat of imposing 25% tariffs on all US imports from Canada and Mexico and a 10% tariff on imports from China.