HAMILTON, Ontario, Aug. 14, 2018 (GLOBE NEWSWIRE) -- The Canadian Steel Producers Association (CSPA) today voiced its strong support for the Government of Canada’s announcement of a process leading to the initiation of an appropriate Safeguard action on a range of steel products currently facing pressure from an unprecedented wave of offshore imports.
“As a result of the 232 tariffs imposed on steel imports by the Trump administration, a Safeguard action initiated by the European Union and the ongoing crisis of excess capacity in global steel, Canada’s Steel Producers welcome this step by the Government of Canada towards the initiation of a Canadian Safeguard action,” said CSPA President Joseph Galimberti. “This Safeguard is essential to stabilizing Canada’s domestic steel market and ensuring that Canadian producers and employees are not further harmed by dramatic increases in offshore steel imports.”
A Safeguard action is a World Trade Organization (WTO) authorized step available to the Government of Canada to defend domestic steel producers. This evidence-based process is not intended to limit supply or create price shocks for steel users, but rather to appropriately stabilize Canada’s domestic steel market and ensure domestic producers are able to participate on fair commercial terms.
“While our shared goal remains a return to the fair trade which has fostered strong supply chains in Canadian steel for a generation, today’s announcement is a vital step in protecting Canadian businesses and workers from undue harms being suffered as the result of these truly exceptional global circumstances,” said Galimberti. “While our members remain focused on continuing sustainable business operations and maintaining employment in Canada, we appreciate the Government’s actions today to address the ongoing threat that diverted steel imports pose to Canadian steel manufacturers.”
Through the consultation period and implementation of the Safeguard action, the CSPA and its member companies will work closely with customers and the Government of Canada to ensure sufficient steel supply is available to support vital industrial, building, energy and manufacturing applications in Canada.
The Canadian Steel Producers Association is the national voice of Canada's primary steel industry, dedicated to ensuring a competitive and sustainable business environment for its members and supply chain stakeholders. Canadian steel producers are integral to Canada's economy and a vital supplier to many segments of North American industry, including the automotive, energy, construction and transportation sectors.
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