The Canadian government has announced retaliatory measures against the US decision to implement 25 percent tariffs on steel imports from all countries without exceptions and exemptions, which officially come into effect yesterday, March 12.
Starting from today, March 13, Canada will apply 25 percent reciprocal tariffs on several import steel products from the US worth $12.6 billion including hot rolled coils (HRC), cold rolled coils (CRC), coated steels, stainless steels, alloy steels, grain-oriented silicon steel, rebars, wire rods, angles, shapes, sections, wires, steel tubes and pipes, and hollow sections. The effect of the US steel tariffs is being evaluated, and further counter tariffs may be imposed in response.
Meanwhile, the government has stated that, unless the US withdraws its 25 percent tariffs on all imports from Canada, which were postponed until April 2, Canada will also start implementing counter tariffs on import products from the US on the same day, following public consultations. The scope of these tariffs could also be further extended, and all options are still on the table to protect Canada, the statement said.
While Canada has urged the US government to reconsider its decision, it also underlined that it is taking steps to minimize the impact on Canadian workers and businesses, and that in the coming weeks and months it will announce additional measures to support businesses and workers as needed.
“With these tariffs, the US administration is needlessly disrupting an incredibly successful trading partnership. It is a completely unwarranted and unjustified move that will raise costs for Americans and Canadians alike. While we actively work to remove these tariffs, our government will use every tool at its disposal to defend Canadian jobs and support our businesses and workers during these challenging times,” Dominic LeBlanc, minister of finance and intergovernmental affairs, commented.
