Sources told The Globe and Mail a potential US-Canada trade accord under
negotiation would introduce a Canadian steel export quota, charging a 25% tariff
on shipments within the quota and 50% on shipments above it. An industry
executive said Canada has agreed to allow 4 mln tonnes of steel per year to
enter the US at the 25% rate; volumes beyond 4 mln t would face a 50% duty.
Sources said Ottawa would drop all retaliatory tariffs on US steel and further
restrict third-country steel imports. Canada is also negotiating aluminum terms
aimed at lowering tariffs.
