ARCTIC BLAST: Canada Imposes 25% Tariff on US Steel
The Canadian government unveiled a hefty new tariff on American-produced steel Friday; imposing a 25% tax starting October 25th as a direct response to President Trump’s stiff sanctions announced earlier this year.
“As part of its ongoing efforts to stand up for Canada’s steel industry and support Canadian workers and businesses, today the Government of Canada is announcing further steps to prevent diversion of foreign steel products into Canada, and provide relief to steel and aluminum users in specific circumstances that are paying for countermeasures on certain products imported from the United States,” the Canadian Department of Finance confirmed.
According to the Washington Examiner, the Canadian tariffs will impact seven American-produced goods; including heavy plate, concrete bars, energy tubular products, hot-rolled sheet steel, pre-painted steel, stainless steel wire, and wire rods.
The White House unveiled its first round of tariffs against foreign-produced steel and aluminum back in March.
Read the full story at the Washington Examiner.
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