The Canadian government will soon announce measures to combat steel dumping from abroad and help local steelmakers affected by the US tariffs. This was stated by the country's Industry Minister Melanie Joly, according to Bloomberg.
Last year, Canada already imposed duties of 25% on Chinese steel and aluminum products in an effort to bring its trade policy closer to the American one and protect its manufacturers.
Joly did not directly answer whether the new measures would be aimed specifically at China, or whether Canada was considering raising tariffs on Chinese steel and aluminum to 50% to match Trump's duties.
According to her, negotiations are underway with the heads of steel companies, as well as with trade unions. The minister added that the Carney government is looking for the most effective measures, while avoiding the outbreak of another trade war.
Melanie Joly also said that the government is exploring ways to help manufacturers affected by US tariffs on steel and aluminum.
Canadian Prime Minister Mark Carney has so far refrained from further retaliatory measures after Trump raised tariffs on metal imports from 25% to 50%. He said that officials are in intensive negotiations with the United States on trade relations.
According to the American Institute of Iron and Steel, last year imports accounted for 23% of the consumption of rolled products in the United States, while the share of Canadian products was 6.3%.
