Canada Imposes Tariffs On U.S. Steel, Aluminum Products
Last Friday, the Canadian government announced the final list of imports from the United States that were subject to tariffs starting Sunday, July 1. Together, the products total more than $16.6 billion in imports. The full list of imports, including all steel and aluminum products, is available here. The Canadian government said the penalties will “remain in place until the U.S. eliminates trade-restrictive measures against Canadian steel and aluminum products.”
Additionally, regarding the tariffs, Foreign Minister Chyrstia Freeland pledged, “Our approach is we will not escalate but equally we will not back down.”
The Canadian government also announced last week that it will provide aid to steel and aluminum companies that have been negatively impacted by the United States’ Section 232 steel and aluminum tariffs. According to Reuters, “The package could total more than $600 million in the form of job training benefits for workers as well as loans, loan guarantees and commercial financing to help Canadian firms find new markets …” Click here to read the full details of the program.
Meanwhile, the American Institute for International Steel (AIIS) filed a lawsuit last week in the U.S. Court of International Trade challenging the Trump administration’s Section 232 steel tariffs. According to The Financial Times, AIIS and two of its member companies argue that the U.S. law that authorized the tariffs “amounts to an unconstitutional delegation of Congress’ trade powers to U.S. presidents.”
In related news: the Chinese government announced last week that it will reduce tariffs on imports, including imports of steel and aluminum products, from five Asian countries. Finally, as a reminder, the U.S. Commerce Department continues to adjudicate exemption requests from its Section 232 steel and aluminum tariffs. Click here to read more about that process.