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Thursday, December 9, 2021

Canada initiates dumping inquiry into steel imports from China, Vietnam and South Korea

Canada initiates dumping inquiry into steel imports from China, Vietnam and South Korea© Reuters. Canada initiates dumping inquiry into steel imports from China, Vietnam and South Korea

(Reuters) – The Canadian International Trade Tribunal (CITT) said https:// 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.

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Source: Investing.com

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