The Canadian government announced today that from October 25 will impose tariffs of 25% on seven categories of steel products to prevent foreign manufacturers affected by the increase of taxes in the United States direct their production to Canada.
The Canadian Ministry of Finance said in a statement that the seven steel products to be taxed are plate, reinforcing bars for cement, tubular products for the energy sector, hot-rolled steel sheets, pre-painted steel, stainless steel cable. and wire rods.
The tariff will be imposed on products from all countries of the world.
The Canadian authorities also announced aid for producers who depend on steel and aluminum from the United States and who are being affected by the tariff hike decided by Ottawa in retaliation for the same measure adopted by Washington.
The aid will come from the 16,600 million Canadian dollars (12,800 million US dollars) in tariffs that Canada imposed on products imported from the United States after Washington imposed tariffs of 15 to 25% on Canadian exports of steel and aluminum.