{"id":267104,"date":"2025-07-16T17:13:24","date_gmt":"2025-07-16T17:13:24","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/267104\/"},"modified":"2025-07-16T17:13:24","modified_gmt":"2025-07-16T17:13:24","slug":"canada-targets-china-with-higher-tariffs-as-part-of-steel-industry-measures","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/267104\/","title":{"rendered":"Canada targets China with higher tariffs as part of steel industry measures"},"content":{"rendered":"

Prime Minister \u00a0has announced new measures he says are aimed at protecting Canada\u2019s steel industry that include targeting metal that comes from China.<\/p>\n

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The new measures include restricting and reducing the amount of foreign steel imports entering Canada.<\/p>\n

Countries without a free trade agreement with Canada are likely to feel the biggest change, with Canada changing its tariff-rate quota from 100 per cent to just 50 per cent of 2024 volumes.<\/p>\n

Any imports that fall above that rate will also face a 50 per cent tariff.<\/p>\n

Additional duties will also be imposed on 25 per cent of steel imports from all non-U.S. countries that contain steel melted and poured in China before the end of July.<\/p>\n

But it\u2019s not just countries without an agreement, non-U.S. partners that have a trade deal will face a quota of 100 per cent of 2024 volumes, with a 50 per cent duty applied for anything above that level.<\/p>\n

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\u201cThe trade actions of the United States are further transforming global steel market dynamics and supply chains,\u201d Carney said. \u201cLet\u2019s be clear, Canada will be one of the countries most impacted by these developments.<\/p>\n

\u201cMoving forward, we must diversify our trade relationships and above all, we must rely more on Canadian steel for Canadian projects and those shifts start today in an increasingly unpredictable and unreliable world.\u201d<\/p>\n

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He told reporters there are no immediate plans to change counter-tariffs\u00a0on the U.S.
Carney also said his government would reassess all existing trade arrangements with respect to steel \u201cconsistent\u201d with ongoing negotiations with the U.S.<\/p>\n

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All steel-related negotiations the U.S. is undertaking with other countries will also be taken into account, Carney said, \u201cbecause what happens in those will affect what happens here.\u201d<\/p>\n

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The prime minister said when countries face high tariffs\u00a0in the\u00a0\u00a0U.S., products like steel are then pushed into Canada.<\/p>\n

\u201cOne of the consequences of those very high tariffs is it pushes product, steel in this case, and their derivatives into a Canadian market that has historically been quite open,\u201d Carney said. \u201cSo it\u2019s important that we protect our market from those secondary effects, if you will, from the U.S. negotiations.\u201d<\/p>\n

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