The new USMCA agreement is being hailed by the Canadian Steel Producers Association (CSPA) for its ability to address circumvention and evasion of trade remedy orders.
Alik Angaladian, the CPSA’s director of trade and economic affairs, told Davis Index the new trade agreement should engender cooperation and information sharing. Moreover, it will shield steel producers from schemes to circumvent remedy orders by foreign exporters and importers.
In doing so, the CSPA believes the industry will remain competitive in the face of global excess capacity, which has weakened demand.
According to the World Steel Association, Canadian steel production rose to 1.12mn t (1.02mn mt) in October 2019 from 1.16mn the previous month. Between 1969 and 2019, Canadian steel production has averaged 1.16mn t.
The Canadian association is calling for quick ratification, which it said would bolster manufacturing supply chains and incentivize consumption of North American steel.