Tariffs are part of efforts to address concerns about China ‘dumping’ steel.
The federal government is putting a 25% tariff on steel from China.
The tariffs are part of a move to address China’s repeated ‘dumping’ of steel in foreign markets.
China often overproduces steel and then dumps that steel around the world to drive down steel prices and destroy the steel industry of other countries.
To get a sense of how that works, take a look at the video below for an American perspective on the steel issue:
China also seeks to circumvent U.S. tariffs on steel by sending steel into Canada to have it considered as ‘Canadian steel.’
The Canadian Steel Producers Association praised the move:
“We have discussed safeguards with the government for a very long time, and feel like there is significant evidence. The safeguard is a warranted and badly needed action.”
The tariffs on Chinese steel are a rare example of the Trudeau government standing up to China, as they’ve bowed down to the Communist State over and over again.
Still, it’s a good move. Hopefully, it will lead to the end of U.S. tariffs on Canadian steel, but only time will tell.
Photo – YouTube