Re: U.S. President Trump calls for 24 per cent tariff on all steel imports
posted on
Mar 02, 2018 12:16PM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Dennis,
Please read below from 2016...please recognize that Duties are ...nothing ...new for Canada
SAULT STE. MARIE, ON, Aug. 12, 2016 /CNW/ - Essar Steel Algoma Inc. (Essar Algoma) applauds the Canadian International Trade Tribunal's (CITT) decision today to renew its dumping finding against China, Brazil and Ukraine and its subsidization finding against India in respect of hot-rolled steel sheet and strip. This decision from the CITT ensures that duties on imports from these four countries will remain in place for another five years.
The CITT's finding of likely resumed injury follows a decision by the Canada Border Services Agency (CBSA) that resumed dumping is likely from China, Brazil and Ukraine and resumed subsidization is likely from India if duties were removed. Imports of hot-rolled sheet from the three dumping countries are subject to duties equal to 77% of the export price of the goods. Imports of hot-rolled sheet from India are subject to duties of 3,150 Indian Rupees per metric tonne.
Due to their unfair trade practices, hot-rolled sheet imports from these countries have been subject to duties in Canada since August of 2001. Today's decision from the CITT marks the third time that these duties have been renewed.
Essar Algoma CEO Kalyan Ghosh commented on today's ruling, "Algoma has been successfully serving the Canadian market for over 100 years however, we cannot compete against government-funded exporters that dump steel in our market. While today's decision is a positive development for Canada's steel industry, we remain very concerned about the continued presence of unfairly traded steel in the Canadian market. We are especially concerned in light of the ongoing proceedings against hot-rolled sheet from various countries in the United States, which could divert higher volumes of dumped steel into Canada."
Ghosh added, "We will remain vigilant in monitoring and addressing the threat that unfairly traded hot-rolled sheet poses to our company's viability and to jobs in Sault Ste. Marie and Canada more broadly."
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When you read the entire section 232 (I even outlined an important page in a previous post)
You will see this:
"The one supplier I have complete confidence in is CANADA
Not only do we currently have a steel surplus with Canada we also share a border and have synergistic, strategic, economic and NATIONAL Security interests
HOWEVER, treating CANADA as a unique partner under any Section 232 relief requires that Canada also strengthen and align its trade enforcement efforts with ours.
Circumvention and evasion of US trade laws and actions through Canada is not acceptable."
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Dennis based on the duties applied by Canada ...previously...do you think Canada would have a problem protecting steel workers in Canada....because it's scared to look like a ...bully?
The USA supplies more steel to Canada than we supply to the USA.
What section 232 is trying to do is stop countries from bypassing duties by shipping and repackaging in other countries and then sending this stuff to USA AND..CANADA.
Cliffs mentioned South Korea as one example. .. China to South Korea and then South Korea to USA.
Since Essar ALGOMA was hurt by the SAME shenanigans as occurred in the USA...(countries like China rerouting to other countries)....do you actually believe we would not be supportive of enforcing the stoppage of cheating by using "other" countries to bypass duties?
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Do you not think that "scary" duty talk ..perhaps...aides in the discussions between the lenders and the steel workers union at Essar??
And look at Wynne, spear in hand, clad in a suit of armour ...protecting us all and (fighting......for the best deal for all of Ontario....what a hero she is being portrayed to be ...to fight a threat that frankly...doesn't exist for Canada
But...it sure looks good in time for the votes June 7....all that spirit, vim and vigour.