TORONTO, May 14, 2024 /CNW/ - The United States today announced serious actions against China taking direct aim at Chinese steel overcapacity in the name of economic security and protecting the American steel sector and supply chains. 

"As our trading partners reinforce their trade remedy system with additional measures coupled with new tariffs and stronger laws, it is imperative that Canada keep pace and put in place new tools to defend against the rise in unfairly traded steel imports from China and elsewhere," said President and CEO of the Canadian Steel Producers Association, Catherine Cobden.

"In Canada, we continue to face unprecedented levels of steel imports in our marketplace with offshore imports doubling over the last 10 years. While we are the largest user of Canada's trade remedy system, imports continue to flood our country despite existing anti-dumping measures, putting Canadian jobs and investment at risk."

Canada currently has 52 steel-related trade measures on Indo-Pacific countries, with 18 specifically levied against China and more to follow. Despite these measures, China is still the third largest importer of steel into our domestic market with over 660,000 tonnes last year alone.   

"To address this, CSPA urges the Government of Canada to immediately consider a comparable tariff approach and evolve our trade tools – such as retroactive assessments on unfairly traded imports, the use of alternative trade remedy tools such as the Particular Market Situation methodology and adopting enhanced anti-circumvention protections- to further align with the United States."

The Canadian Steel Producers Association is the national voice of Canada's primary steel and the pipe and tube industry, dedicated to ensuring a competitive and sustainable business environment for its members and supply chain stakeholders. Canadian steel producers are integral to Canada's economy and a vital supplier to many segments of North American industry, including the automotive, energy, construction, and transportation sectors.

SOURCE Canadian Steel Producers Association