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Canadian Government Extends Tax Relief For Steel & Aluminum Imports
Editor's Note: This news item was retrieved and first published through Automotive News Canada's website.
TORONTO - Canadian officials report on last week that the country will exclude some imported steel and aluminum from its newest import tariffs and quotas following a request from the construction industry in British Columbia, which depends on imported metal. The government also said it would give additional relief to some companies that have contractual obligations. In Canada, automakers frequently buy U.S. steel under contract, import and distribute it to their Canadian suppliers as well as their own plants, but it was not immediately clear which companies would be affected.
According to the article by Automotive News Canada, in October, the Canada government announced quotas and tariffs on seven categories of steel imported from most countries outside the U.S. In November, British Columbia construction industry leaders asked the government to exempt rebar, steel bars used to reinforce concrete, from new steel quotas and tariffs announced in October. The amendments were meant to reassure U.S. officials that cheap metal would not leak across the border if U.S. tariffs were lifted, and ensure that steel shut out of the U.S. market did not harm Canadian steel mills owned by Stelco Holdings , ArcelorMittal Dofasco and others.
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