Trudeau: Canada's steel industry can breathe 'sigh of relief' after exemption

Trudeau: Canada's steel industry can breathe 'sigh of relief' after exemption

The steel tariff threat was seen by many to be an attempt by the Trump administration to pressure Canada and Mexico to complete the NAFTA talks - giving in to other US demands or giving up some of their own -rather than risk the punishing steel and aluminum duties.

Sean Donnelly, who heads Canada's largest steel manufacturer, added that the government must put resources in place to ensure cheap steel is not diverted to Canada after Trump decided last week to impose a 25 percent tariffs on steel imports.

"On our end we are going to vigorously defend supply management", Couillard said, adding Quebec's farmers have already given up market share for other recently negotiated trade deals.

Trump has linked permanent exemption to the successful renegotiation of the North American Free Trade Agreement, making the industry nervous.

Under both United States law as well as World Trade Organisation (WTO) rules, they appear to be.

There is genuine concern among aluminum workers that that an exemption from a "Trump tariff" - an export fee - will be reversed. Based on his assessment report, the President is able to impose without recourse to Congress.

India expects a loss of $130 million due to the US import tariffs, according to a note prepared by the steel ministry, Reuters reported.

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But as much as the steel industry has shrunk over the years, the USA still produces millions of tons of it each year, Lardy says. It could also backfire; Trump named national security as part of his justification for the tariffs, something the WTO has been reluctant to rule against.

Develop an efficient process for USA companies to file exceptions for product exclusions. "Therefore, DoD does not believe that the findings in the reports impact the ability of DoD programs to acquire the steel or aluminum necessary to meet national defense requirements".

But right now, the more pressing issue is the threat of Donald Trump imposing tariffs on Canadian steel and aluminum. Brazil, which is the second biggest supplier of steel to the United States after Canada, remains open for a dialogue to reach an understanding with the United States and is talking to other countries to learn about measures they are considering, he said.

The encouraging news is that there is nearly total unanimity that the tariffs would be just as harmful to the American economy as they would on this side of the border.

Prime Minister Justin Trudeau on Monday sought to reassure steel and aluminum workers anxious about possible U.S tariffs, telling them the government would always have their backs. There was no resolution of the tariffs issue, however. With tensions running high, this new tariff could very well escalate quickly into a global trade war.

Previously, trump said that the negotiations on NAFTA for him to play a special role, and if they fail, the duty may be imposed and for Canada and Mexico. In her downtime, she enjoys getting lost in a good book and tending to her urban garden.

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