OTTAWA: A 25% tariff on steel imports is reportedly set to be levied and that isn’t good news for Canada.Although China is the world’s largest steel producer, they are only a fraction of US imports while Canada is actually the biggest foreign supplier of US steel.
The decision by the US to impose such tariffs only would complicate trade relations between the two countries, considering how tough NAFTA talks have been up until now. And it will only serve to pile on more pressure onto the loonie as Canadian steel companies will feel the pinch, and in turn the economy.
