Canada Wants to Stop Cheap Steel Imports Among Trade Row With US

After announcing import duties on aluminum and steel, US President Donald Trump had stated that the EU, Canada, and Mexico, as well as a few other countries, would be exempt from the limitations, but eventually revoked the possibility after they refused to discuss their stance with Washington.

The Canadian minister of innovation, science and economic development, Navdeep Bains, has announced that the country's government plans to slap more quotas and tariffs, which are part of so-called safeguard measures aimed at preventing the influx of cheap foreign steel diverted from the US, such as energy tubular, steel plates and rebar.

"We did that based on the data and the information that we have. That by no means is the final list so we'll look at what option, either tariff or quotas, that we need," Bains was quoted by Bloomberg as saying.

READ MORE: Scholar on US-Canada Relations: 'There's the Possibility of a Trade War'

He declined to elaborate on what the next steps will be, saying only that he is currently in talks with representatives of the country's steel sector.

The situation in global trade escalated substantially after US President Donald Trump introduced a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports in March.

READ MORE: US Tariffs Policy Could Ignite 'Much Broader Trade War' — Analyst

Tensions further sharpened after the US extended these duties to the EU, Canada, and Mexico, which had temporarily been exempted from the measures.

The US moves have prompted worldwide outrage. China, India, the EU, Canada, Mexico, Norway and Russia have since lodged complaints with the WTO against the restrictive measures imposed by Washington.

While Brussels has responded by introducing duties on American goods like jeans, bourbon, and motorbikes, Canada has slapped retaliatory tariffs on US-made goods worth a whopping $12.6 billion.