Canada participates in North American Steel Trade Committee

Canada participates in North American Steel Trade Committee

According to an announcement made last Friday, Canada is joining the US and Mexico in the formation of a North American Steel Trade Committee. Such committee aims to gather officials of these three NAFTA governments and representatives of steel manufacturers and work on the critical trade issues such as subsidies. A meeting related to this topic will be held in Mexico City on November 21. The participating countries in this committee dedicate themselves to adopt a common approach to global discussions over the state steel subsidy ban issue and global overcapacity problem. Meanwhile, Canadian Government has also stated that they have no plans to implement safeguard measures against steel imports from any country. This decision is seen as a result of the existing uncertainty over the US safeguard measures implemented in March 2002, mainly challenged by the WTO as well as the concern to secure a smooth operating environment in the North American steel market.