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Canada is cracking down on the dumping of cheap foreign steel into the country by imposing new trade restrictions aimed at helping domestic producers reeling from U.S. President Donald Trump’s punishing tariffs.Prime Minister Mark Carney, in a news conference in Ottawa on Thursday, said the government will attempt to limit steel imports from countries that don’t have free-trade agreements with Canada to 2024 levels.
Canada currently has such agreements with 51 countries, including the United States, Mexico, the European Union, Australia and Japan. But China, India, Taiwan, Turkey and Russia, all major steel producers, do not have trade deals with Canada.
They have been accused of selling the metal at an artificially low price to gain market share, a practice known as dumping. If the group of countries that don’t have free-trade agreements with Canada exceeds 2024 steel shipment volumes, a 50-per-cent tariff will apply.
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