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Ottawa, December 8, 1998
1998-120

Ministers Meet with Steel Industry Representatives to Discuss Increasing Steel Imports

Finance Minister Paul Martin and Minister of National Revenue Herb Dhaliwal met today with the chief executive officers (CEOs) of several Canadian steel companies and the Canadian Director of the United Steelworkers of America to discuss their concerns about increased imports of low-priced steel.

The meeting followed on the heels of the December 3 announcement by Revenue Canada that an anti-dumping investigation had been initiated with respect to flat hot-rolled carbon and alloy steel sheet and strip from France, Romania, the Russian Federation and the Slovak Republic. An anti-dumping case involving stainless steel round bar from the Republic of Korea was also initiated on the same day.

Canada is one of a number of countries, including the United States, that has recently initiated steel anti-dumping cases as international steel markets continue to be under pressure due to global production surpluses.

As the Minister responsible for Canada's trade remedy laws, Minister Martin assured Canadian steel producers that the government would not stand by and let international market distortions sideswipe Canadian producers. "I understand that the current distress in international steel markets has driven Canadian steel producers to file anti-dumping complaints. The government is prepared to move to address any injurious dumping resulting from these circumstances as is its right under the international rules of the World Trade Organization," he said. "These companies have made significant investments in Canada in order to compete fairly and effectively in domestic and international markets."

Revenue Canada is responsible for initiating anti-dumping investigations. Minister Dhaliwal stated, "In response to market conditions, my department has expedited its work in examining allegations of dumped steel imports. Exporters ought to be aware that, should there be a large increase of harmful imports, duties could be retroactive to the date the investigation began. Such actions are designed to ensure that steel shipments are not diverted into the Canadian market."

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