Catherine Cobden, president and CEO of the Canadian Steel Producers Association (CSPA), has released a statement regarding the announcement by the US president-elect Donald Trump of his plans to impose tariffs on all products from Canada, as SteelOrbis reported earlier.
Ms. Cobden stated that bilateral trade between the two countries amounts to about $20 billion per year and that the US accounts for 40 percent of Canada’s steel imports, while Canada accounts for 20 percent of their steel imports. Moreover, Canada has joined US efforts to protect the North American industry and to tackle the threat that China is imposing with its unfair trade practices and excess steel capacity by imposing tariffs and trade measures on par with the US, she said.
Taking these factors into consideration, the CSPA official pointed out that the US imposing tariffs on steel products from Canada would have an adverse impact on several sectors such as automotive, energy and construction, hitting American and Canadian consumers with higher prices. As a result, Ms. Cobden has urged the Canadian government to engage in a dialogue with the incoming US administration and to show that a united front together as North America will strengthen both countries’ economic security against serious threats around the world.