As savvy importers – and current-affairs watchers – know, taxes, tariffs and retaliatory actions are adding significant costs to the import of many products. Not long ago, we ran a blog on steel and aluminum tariffs, so head there for a bit of history.
Given the significant cost new U.S. tariffs are adding to steel products, folks in the steel industry are concerned that steel goods previously bound for the U.S. could be diverted to other markets – including Canada – where import costs are lower. Because of this, the Canadian government has taken the unusual step of applying a provisional safeguard surtax to most steel products imported into Canada – subject to the provisions outlined below.[Read More]