OTTAWA, Oct. 12, 2018 (GLOBE NEWSWIRE) -- The Canadian Steel Producers Association (CSPA) welcomed today the Government of Canada’s announcement on the initiation of a Safeguard action on a range of steel products to prevent diversion of foreign steel products into Canada.
“Canada’s steel industry is currently facing increasing pressure from significant disruptions in global steel markets caused by global overcapacity, recent U.S. trade actions and Safeguards initiated by additional consequential jurisdictions like the European Union,” said CSPA President Joseph Galimberti. “Today’s announcement of a Canadian Safeguard action is warranted and essential to stabilizing our domestic steel market and ensuring Canadian companies and employees can continue to compete fairly in our home market.”
A Safeguard action is a World Trade Organization (WTO) compliant tool available to governments for the purpose of stabilizing domestic markets in the face of extraordinary threat. The CSPA supports the evidence-based Safeguard action initiated by the Government of Canada today to ensure that Canadian businesses are not further harmed by dramatic increases in offshore steel imports while sufficient steel supply remains available to support vital industrial, building, energy and manufacturing applications in Canada.
“The CSPA welcomes the Government of Canada’s action today to address global steel diversion into the Canadian market. We will continue to work closely with the Government to preserve free and fair trade of steel in Canada.” said Galimberti. “While the CSPA and our members remain committed to returning to the free and fair trade in North American steel which has supported Canadian industrial supply chains for a generation, today’s announcement is a critical step in defending Canadian workers and businesses from unwarranted harms being suffered as a result of these exceptional global circumstances.”
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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