Canada will tax American steel

SEATTLE (Scrap Monster): Canada will add new tariffs to a list of steel products, including many US-made items, as Prime Minister Mark Carney seeks to protect an industry badly hurt by the trade war and a flood of cheap Chinese metal.

Carney announced the new 25% levy on steel derivative products as part of a suite of measures to help producers. The tariff will apply starting Dec. 26 to about C$10 billion ($7.1 billion) of imported products including wind towers, prefabricated buildings, fasteners and wires.

Courtesy: www.businessnorth.com