Prime Minister Mark Carney announced that steel from China would be subject to higher customs duties in an attempt to prevent steel dumping in the context of the World Trade War led by US President Donald Trump.
Carney was present Wednesday in a steel company in Hamilton, Ontario, to announce measures aimed at protecting the Canadian steel industry.
These measures include a new customs right of 25 % on all steel products containing melted metal and sunk in China by the end of the month.
Canada will also impose import quotas based on the quantity of steel imported from each country in 2024, the countries that have not yet concluded a free trade agreement with Canada being more affected than those who have concluded one.
The Prime Minister claims that the Canadian steel industry will be among the most affected by the current global reorganization of the steel markets, as it is one of the most open markets in the world for steel and that Canadian industry must be protected.
Carney says there will be no immediate change in retaliatory customs duties with regard to the United States, while Canada continues to seek to conclude a new economic agreement with Donald Trump by the 1stis august.
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