Canada slaps 25% tariff on US steel imports, but the industry is still worried
Toronto — Condominium buyers in Canada’s already pricey markets may be the next to pay up as the trade battle with the US radiates through the construction industry. Canada imposed a 25% tariff on US steel imports on July 1, retaliating against levies US President Donald Trump slapped on goods from its northern neighbour a month ago. Prime Minister Justin Trudeau’s government is also said to be preparing quotas and tariffs for other countries to prevent a flood of steel rushing in to undercut prices. Steel fabricators and metal importers say the tariffs will jack up prices for everything from rebar used in high-rise condos to structural steel for industrial builds in a market already facing shortages and soaring prices. Job losses and stalled projects are likely, they said. "If the government’s not careful, they will protect one at the expense of 10 times that elsewhere," said Walter Koppelaar, CEO and chairman of Walters, an Ontario-based steel construction company that counts Broo...
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