TORONTO (by Reuters) – Canada said on Wednesday it will exclude some imported steel and aluminum from its newest import tariffs and quotas following a request from the construction industry in British Columbia, which depends on imported metal.
The government also said it would give additional relief to some companies that have contractual obligations. In Canada, automakers frequently buy U.S. steel under contract, import and distribute it to their Canadian suppliers as well as their own plants, but it was not immediately clear which companies would be affected.
In October, the government announced quotas and tariffs on seven categories of steel imported from most countries outside the United States.
The measures were meant to reassure U.S. officials that cheap metal would not leak across the border if U.S. tariffs were lifted and ensure that steel shut out of the U.S. market did not harm Canadian steel mills owned by Stelco Holdings, ArcelorMittal Dofasco and others.
They followed Canada steel and aluminum import tariffs on U.S. imports of steel and aluminum imposed on July 1, 2018, in retaliation for U.S. President Donald Trump’s tariffs.
Read more: www.reuters.com/article/canada-expands-steel-aluminum-tariff-exemptions
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