Canada initiates dumping inquiry into steel imports from China, Vietnam, South Korea
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The Canadian International Trade Tribunal (CITT) said on Monday it has initiated a preliminary dumping inquiry into steel imported from China, South Korea and Vietnam.
The tribunal will investigate whether the alleged dumping and subsidizing of “cold-reduced flat-rolled sheet products of carbon steel” from these countries have harmed Canada’s steel industry.
CITT, which operates in Canada’s trade remedy system and reports to parliament, said it will determine the results of the investigation on July 24 and will provide the reasons for the same on August 8.
Canada’s steps follow U.S. actions from last week when the United States Commerce Department had slapped steep import duties on steel products from Vietnam that originated in China after a final finding they evaded U.S. anti-dumping and anti-subsidy orders.
The global steel industry is struggling with a glut of excess production capacity, much of it located in China, that has pushed down prices.
Questions & Answers
Q.What specifically is Canada investigating regarding steel imports?
What specifically is Canada investigating regarding steel imports?
Canada's International Trade Tribunal is investigating whether alleged dumping and subsidising of “cold-reduced flat-rolled sheet products of carbon steel” from China, South Korea, and Vietnam have harmed its domestic steel industry.
Q.When will the results of the Canadian investigation be determined?
When will the results of the Canadian investigation be determined?
The Canadian International Trade Tribunal will determine the results of its preliminary dumping inquiry into steel imports on July 24. The reasons for this decision will then be provided on August 8.
Q.What broader issue is affecting the global steel industry?
What broader issue is affecting the global steel industry?
The global steel industry is currently struggling with a significant glut of excess production capacity. A large portion of this oversupply is located in China, which has led to depressed prices worldwide.
Q.Have other countries taken similar action recently?
Have other countries taken similar action recently?
Yes, Canada's actions follow steps taken by the US last week. The United States Commerce Department imposed steep import duties on steel products from Vietnam that originated in China after finding they evaded anti-dumping orders.
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