Canada’s provisional steel safeguard duties are underway and expected to help stabilize the Canadian steel market
Canada’s steel industry is currently facing increasing pressure from significant disruptions in global steel markets caused by global overcapacity, recent U.S. trade actions and Safeguards initiated by additional consequential jurisdictions like the European Union.
Unfairly traded offshore steel imports continue to plague the Canadian steel market and there is continued concern of offshore import diversion into Canada. October 25 was the first day of provisional safeguard duties on a range of steel products to prevent this diversion of foreign steel products into Canada.
The Canadian provisional steel safeguard is a welcomed step forward to stabilizing the market, says ArcelorMittal Dofasco President and CEO Sean Donnelly. “We have seen injury and are concerned about further threats to the Canadian steel market,” he says. “The Canadian government’s provisional duties are a much needed step towards addressing global steel diversion and preventing trans-shipments.”
ArcelorMittal Long Products Canada President and CEO Francois Perras adds the Safeguard allow the Canadian steel industry to compete on a level-playing field. “With fair and equitable rules, Canadian steel producers and their dedicated workers are able to use their expertise and experience to meet market demand with competitive steel products.”
It has been extraordinary times for the global steel industry with ongoing global overcapacity as well as significant trade activity in North America and worldwide. The provisional safeguard actions will help deter this and ArcelorMittal Dofasco is also leading trade actions on cold rolled and corrosion resistant steels against China and other countries as further action to deal with this unfair trade.
Read more about the Canadian Steel Producer’s position.
Read more about the Safeguard Provisional Duties.