The following is provided by the Department of Finance.
The federal government has announced the launch of a 30-day public consultation on possible trade measures to protect against the threat of diversion of steel products from third countries into the Canadian market as a result of the recent trade measures by the United States (US).
According to a government press release issued over the weekend, the global steel market currently has too much supply compared to demand. This severe overcapacity leads to cheap foreign steel being sold at artificially low prices in Canada and globally. When such steel enters the Canadian market, it negatively impacts Canadian steel workers and businesses. Following recent U.S. tariffs, there is a heightened risk that these steel products may flood the Canadian market putting both producers and workers at risk.
The consultation examines potential new trade measures that would complement measures recently announced by the Government of Canada, such as the retaliatory tariffs applied on March 13, 2025, to US steel and aluminum products. Comments may be submitted until April 21, 2025.