As Canadian steel producers export a significant amount of steel, we believe in fair trading practices.
Foreign government subsidies and other trade distortions have resulted in steel global overcapacity. Global overcapacity in steel production has risen to roughly 440 million tonnes, a figure that is close to 30 times the entire Canadian market. The volume of surplus steel that could be produced and shipped into the Canadian market has the potential to not only injure the domestic industry, but threatens to eliminate it from the market.
With the current state of global steel overcapacity and trade uncertainties, Canada’s trade remedy system is an important tool to address injurious steel imports. Steel producers are reliant on Canada’s trade remedy system to maintain a level-playing field and have consistently used the system to address unfairly traded imports. Canadian steel producers firmly adhere to fair trade practices in accordance with international rules.
The North American steel market is highly integrated. Steel moves back and forth across the Canada-US border as it is transformed. Through fair and open trade between Canada, the United States and Mexico, North American steel producers are better positioned to compete and succeed in the global economy. The newly signed Canada, United States, Mexico Agreement brings great benefits to the region and supports the crucial integration of the North American steel market.