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Statement by the Canadian Steel Producers Association Regarding Steel Safeguards

OTTAWA, April 26, 2019 (GLOBE NEWSWIRE) -- The Canadian Steel Producers Association’s (CSPA) President, Catherine Cobden, issued the following statement today following the Government’s decision on steel safeguards:

“Canada's steel industry is disappointed with the government’s announcement to not take decisive action to put safeguards in place for all 7 products. Steel producing nations around the world are implementing these trade measures and Canada’s failure to do so means we are more dangerously trade exposed than ever before.”

“Without safeguards, there will be significant negative impacts on the steel industry in Canada, and will lead to the loss of thousands of jobs, put $1.1 billion in planned investments at risk, and see the erosion of our competitiveness.”

“Our industry is in crisis driven by global overcapacity, US 232 actions, and safeguard measures put in place in other jurisdictions. Job losses are taking place and investments are going elsewhere. The government must act now to support our workers and ensure our ongoing economic viability.”

“We stand ready to work with the Government to find ways to address the immediate challenges we face.”

About the Canadian Steel Producers Association

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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