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Canada expands targeted relief for steel, aluminum tariffs

Pittsburgh — Canada will provide targeted tariff relief on a broader range of steel and aluminum products from the US in response to requests from domestic end-users, the federal Department of Finance said.

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Canada introduced reciprocal tariffs of 25% on US steel imports and 10% on US aluminum imports July 1 after the US began collecting its own tariffs on imports of the metals from Canada on June 1.

"The government recognizes that Canadian countermeasures against US imports can create challenges for Canadian manufacturers, in particular for those that rely on US steel and aluminum imports," the Department of Finance said in a statement Wednesday. "These include manufacturers in sectors such as energy, advanced manufacturing, construction, and automotive parts, among others."

Canada will provide targeted relief on a broader range of products, including for specific companies facing particular circumstances, such as contractual obligations, the ministry said. As a result, the government will waive the surtax on certain steel and aluminum products that were imported as a result of contractual obligations that existed before May 31.

Relief also will be granted for certain steel and aluminum products determined to be in situations of temporary or ongoing short supply.

Canada will also grant relief on imports of steel from other countries that were in transit before October 25 following a request from the country's construction industry.

Canada introduced a 25% tariff on seven steel import categories October 25 in an effort to prevent the diversion of metal to the country following the implementation on the US Section 232 tariffs on steel and aluminum in March. The tariff covers imports of heavy plate, rebar, energy tubular products, hot-rolled coil, pre-painted, stainless wire, and wire rod steel. -- Justine Coyne, justine.coyne@spglobal.com

-- Edited by Keiron Greenhalgh, newsdesk@spglobal.com