Trade tribunal set to release report on steel safeguards today
The Canadian International Trade Tribunal is expected to release its report late Wednesday on Finance Minister Bill Morneau's use of emergency safeguard measures to shield Canada's domestic market from seven types of foreign steel.
A three-person panel held hearings Jan. 7-24. Morneau has until May 12, when his provisional surtaxes are set to expire, to consider the panel's advice.
"The provisional safeguards have been working and are very important to stabilizing our marketplace," said Catherine Cobden, president of the Canadian Steel Producers Association.
"Our view is strong that we need to see those continue," she said, adding she hopes to see the surtaxes stick around for the next three years.
But businesses who rely on an affordable supply of steel have been sharply critical of the finance minister's measures, which they say take already tough global market conditions and make them worse.
The panel may offer different recommendations for each of the seven products targeted: heavy plate, concrete reinforcing bar, energy tubular products, hot-rolled sheet, pre-painted steel, stainless steel wire and wire rod...
This was excerpted from the 3 April 2019 edition of CBC News.