March 28, 2016

Prime Minister Trudeau Includes Trade Enforcement Measures In Budget

Canadian Prime Minister Justin Trudeau released his first budget proposal last week. According to The Washington Post, under the outline the government will run deficits totaling almost $91.7 billion over six years and offer some economic stimulus. The stimulus will include tax relief and billions of dollars in new spending on public transit programs. 

In all, the prime minister proposed adding $8.4 billion in annual spending for the fiscal year that begins April 1, which will result in a projected deficit of $22.4 billion for the coming year. 

The budget also includes efforts to strengthen efforts to remedy the effects of dumped and subsidized imports of steel. Sault MPP David Orazietti said the “federal budget commitment to strengthening Canada's response to unfair trade is a significant step in the right direction when it comes to stopping foreign steel dumping into Canada … While there is still work to be done, I am optimistic that the Canadian government will act quickly to address this issue.”