PM Trudeau shows support for steel workers, says Canada protecting industry


Trump's eagerness to seal the deal of NAFTA came months after the USA and Canada were on the loggerheads on this issue.

Global trade lawyer Larry Herman says the US tariffs mean there is now a lot of steel looking for a home and he encourages the federal government to put out a firm policy statement soon explaining what it will do if it finds evidence other countries are attempting to dump their steel in Canada.

He said he began talking about steel with Trump at the G7 summit in Sicily previous year, when he was emphatic that Canada poses no national security threat to the U.S.

A heavy lobbying blitz by Canada after the tariffs were first announced March 1 helped convince the US administration to exempt Canadian steel when the final announcement was made last week.

He said he and Trump also "welcomed and encouraged the progress being made on negotiation of the renewed North American Free Trade Agreement" and discussed an opioid crisis affecting both nations. "We will continue working toward securing a definite and permanent exemption from those tariffs", Trudeau said earlier.

Later, at a roundtable with industry leaders, he spoke again of the importance of steel to Hamilton, but said he was there to listen.

"Ahead of actually applying border measures on offshore steel, there is a need for the Trudeau government to state its clear policy in dealing with steel diversion", Mr. Herman wrote in a memo to clients Monday.

"As I said to the congressional leadership, as I said to the president last week: We are always happy to better co-ordinate and to work together to do even more to ensure that we are protecting the North American steel industry".

Shares Aiming Higher Pre-Bell: Time Warner Inc. (NYSE:TWX)
The firm has "Equal-Weight" rating given on Friday, August 4 by Stephens. (NYSE:TWX) on Thursday, January 4 with "Hold" rating. Cipher Limited Partnership holds 0.34% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY) for 71,027 shares.

Brazil has said it will seek exemption from the newly imposed tariffs.

"National security issues do not apply - could not apply to Canada - when we have our aluminum in their fighter jets, our steel that goes into their armoured vehicles", Trudeau said. The Canadian aluminum industry?

"We have a whole suite of tariffs and countervailing duties that are at our disposal to move forward and ensure that we are not accepting in unfairly-produced or sold steel into Canada", Trudeau said.

He made the point by mentioning in his CNBC interview that he was a few kilometres from the Bagotville air force base, built during the Second World War to protect critical aluminum supplies required by the military.

"On the national security side, we have always been incredibly integrated".

Following Trudeau's visit to Hamilton, he will complete his tour with two more stops in Sault Ste.

Employment at the Stelco mill in Hamilton is about 550 people, said Mr. Howe, who attended the meeting Mr. Trudeau held with steel industry stakeholders in Hamilton. Marie, Ont., and Regina this week.

"Our steel, our aluminium is in their tanks and ships and planes".