Latest news with #dumping
Yahoo
3 days ago
- Business
- Yahoo
Understanding Canada's moves to block cheap steel imports
Prime Minister Mark Carney announced Wednesday that the government was tightening rules around steel imports. The move is an effort to protect Canada's domestic industry from dumping as the global trade of the metal undergoes major shifts because of government actions out of the United States and China. Here's a look at some of the key questions. What is dumping? Dumping refers to foreign firms selling goods at artificially low prices, or prices that don't accurately reflect their cost of production. It can also mean a company selling goods for less in foreign markets than comparable goods are selling for in their home market. Companies tend to dump goods either by selling below cost to gain market share, or because an excess of production in their home countries has them looking for markets to offload the goods and recover some costs. Government subsidies can be a significant contributor to firms selling at artificial prices because they distort price structures. Subsidies can include simply giving money to companies to help them grow, more indirect aids like preferential access to land, as well as government loans and loan guarantees and tax breaks. The Canadian government uses all of these levers to help grow domestic industries, but governments can only go so far within international trade rules. Subsidies that artificially reduce costs so manufacturers can flood foreign markets at unfairly low prices crosses that line. How big of a problem is steel dumping for Canada? While dumping cases are determined on specific products, the overall scale of steel imports has swelled over the past decade. Offshore imports have climbed from 19 per cent of the Canadian market in 2014 to 39 per cent in 2022, according to the Canadian Steel Producers Association. The steel industry also dominates anti-dumping inquiries at the Canadian International Trade Tribunal, the body tasked with determining whether imported goods are being sold at artificially low prices. The Canadian steel industry has challenged dozens of product categories from cold- to hot-rolled steel, various wires, piping and rods, even including stainless steel sinks. The tribunal has largely ruled in favour of applications that dumping has occurred and is harming Canadian industry. And while there are problems now, the bigger concern is how much more product, especially from China, might get diverted to the Canadian market as the U.S. moves to close off imports. It's also expected to be a growing problem in the future as China's domestic demand slows. China already has 50 million tonnes of overcapacity in steel production across its 360 mills, according to Wood Mackenzie, but it said that overcapacity could swell to 250 million tonnes over the next decade. Canada's total production, meanwhile, was 12.1 million tonnes in 2023. How long has it been a problem? A long time. Canada introduced the first anti-dumping provisions in the world in 1904, which singled out a 'special duty on under-valued goods,' according to international trade expert Dan Ciuriak in a report. What was unique about the measure was that it was a flexible tariff, meant to make up the difference between the selling price and the fair market value. The problem has continued and grown as global trade has increased, leading to growing calls to do more about it. For steel, concerns grew as China's exports surged to 110 million tonnes in 2015 before starting to retreat, only for it to surpass that total in 2024 with 115 million tonnes in exports, according to the International Trade Administration. Back in 2020, United Steelworkers union national director for Canada Ken Neumann said the problem of illegal steel dumping needs to stop. 'Our union will continue to aggressively defend the jobs of steelworkers across Canada who for too long have been harmed by steel imports dumped into our country and sold at unprofitable, below-market prices.' What do the latest tariffs aim to achieve? Canada already imposed 25 per cent tariffs on imports of steel and aluminum from China last year, with the move coming into place in October. But the steel industry and others have maintained that other countries are taking steel produced in China, processing it further and then trying to export it as originating from the there. The latest measures are meant to help protect against that work-around. That's why the government imposed the 25 per cent tariff on steel products that were "melted and poured" in China. The move is the culmination of years of efforts to increase transparency in steel imports, including a requirement that went into effect only last November for importers to declare the country the metal is melted and poured. Catherine Cobden, CEO of the Canadian Steel Producers Association, said the measures will go some ways to tackle China's actions as an "egregious" overcapacity practitioner. "Canada is taking direct aim at global steel overcapacities, and frankly, it's a strong position, and I think will be applauded around the world. This is something that even the United States hasn't yet done." This report by The Canadian Press was first published July 18, 2025. Ian Bickis, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
3 days ago
- Business
- CTV News
Understanding Canada's moves to block cheap steel imports
Prime Minister Mark Carney announced Wednesday that the government was tightening rules around steel imports. The move is an effort to protect Canada's domestic industry from dumping as the global trade of the metal undergoes major shifts because of government actions out of the United States and China. Here's a look at some of the key questions. What is dumping? Dumping refers to foreign firms selling goods at artificially low prices, or prices that don't accurately reflect their cost of production. It can also mean a company selling goods for less in foreign markets than comparable goods are selling for in their home market. Companies tend to dump goods either by selling below cost to gain market share, or because an excess of production in their home countries has them looking for markets to offload the goods and recover some costs. Government subsidies can be a significant contributor to firms selling at artificial prices because they distort price structures. Subsidies can include simply giving money to companies to help them grow, more indirect aids like preferential access to land, as well as government loans and loan guarantees and tax breaks. The Canadian government uses all of these levers to help grow domestic industries, but governments can only go so far within international trade rules. Subsidies that artificially reduce costs so manufacturers can flood foreign markets at unfairly low prices crosses that line. How big of a problem is steel dumping for Canada? While dumping cases are determined on specific products, the overall scale of steel imports has swelled over the past decade. Offshore imports have climbed from 19 per cent of the Canadian market in 2014 to 39 per cent in 2022, according to the Canadian Steel Producers Association. The steel industry also dominates anti-dumping inquiries at the Canadian International Trade Tribunal, the body tasked with determining whether imported goods are being sold at artificially low prices. The Canadian steel industry has challenged dozens of product categories from cold- to hot-rolled steel, various wires, piping and rods, even including stainless steel sinks. The tribunal has largely ruled in favour of applications that dumping has occurred and is harming Canadian industry. And while there are problems now, the bigger concern is how much more product, especially from China, might get diverted to the Canadian market as the U.S. moves to close off imports. It's also expected to be a growing problem in the future as China's domestic demand slows. China already has 50 million tonnes of overcapacity in steel production across its 360 mills, according to Wood Mackenzie, but it said that overcapacity could swell to 250 million tonnes over the next decade. Canada's total production, meanwhile, was 12.1 million tonnes in 2023. How long has it been a problem? A long time. Canada introduced the first anti-dumping provisions in the world in 1904, which singled out a 'special duty on under-valued goods,' according to international trade expert Dan Ciuriak in a report. What was unique about the measure was that it was a flexible tariff, meant to make up the difference between the selling price and the fair market value. The problem has continued and grown as global trade has increased, leading to growing calls to do more about it. For steel, concerns grew as China's exports surged to 110 million tonnes in 2015 before starting to retreat, only for it to surpass that total in 2024 with 115 million tonnes in exports, according to the International Trade Administration. Back in 2020, United Steelworkers union national director for Canada Ken Neumann said the problem of illegal steel dumping needs to stop. 'Our union will continue to aggressively defend the jobs of steelworkers across Canada who for too long have been harmed by steel imports dumped into our country and sold at unprofitable, below-market prices.' What do the latest tariffs aim to achieve? Canada already imposed 25 per cent tariffs on imports of steel and aluminum from China last year, with the move coming into place in October. But the steel industry and others have maintained that other countries are taking steel produced in China, processing it further and then trying to export it as originating from the there. The latest measures are meant to help protect against that work-around. That's why the government imposed the 25 per cent tariff on steel products that were 'melted and poured' in China. The move is the culmination of years of efforts to increase transparency in steel imports, including a requirement that went into effect only last November for importers to declare the country the metal is melted and poured. Catherine Cobden, CEO of the Canadian Steel Producers Association, said the measures will go some ways to tackle China's actions as an 'egregious' overcapacity practitioner. 'Canada is taking direct aim at global steel overcapacities, and frankly, it's a strong position, and I think will be applauded around the world. This is something that even the United States hasn't yet done.' --- Ian Bickis, The Canadian Press This report by The Canadian Press was first published July 18, 2025.
The Sun
3 days ago
- Entertainment
- The Sun
Love Island's Wild West party ‘gave away' who gets dumped tonight, say fans
LOVE Island fans are convinced they have figured out who will get dumped from the villa next. One clever fan has pointed out how the Wild West party that took place in the Love Island villa during last night's episode 'gave away' who gets dumped tonight. 4 4 Donned in pre-loved cowboy core outfits, the Islanders were tasked with ranking the couples in a fun-filled game amid the western-themed party. But fans think the Wild West theme might point towards who will get dumped from the Island. "Wild West Party is shaping up to be Toni's send off," someone on Reddit speculated, alongside a cowboy and a US flag emoji. The original poster went on: "It's not a totally random theme given how much country symbolism is taking up culture today but it tracks well as a way to dump the show's first ever American Islander." "If the final twist in the game is that the bombshell has to couple up with a boy left on the podium for 'least likely to last outside the villa', it's very probable that she'll have been told to pick Harrison. "We know Toni comes across as a producer fave but it's clear her journey with love is over, and this is a more sensational way of dumping her from the island than, say, a villa vote which would definitely target her," they went on. The original poster concluded: "It's a shame that Harrison has ruined her journey this way. a shame too that she let him. Will miss you Toni soprano. I loved your rights and wrongs x." Reacting to the post, fans of the show were quick to comment in agreement with the speculation. "That's actually a really smart observation," said one. While a second said: "All of this makes way too much sense. 'What is that-' ask baffled fans after Love Island's Lauren confronts Harrison over love triangle with Toni "Also someone else on here said in the beach hut, it looked like Shakira had been crying. "I genuinely cannot stand the idea that after all this, it's not Harrison being dumped!! Toni also being the closest person to Shakira, it's going to be even more lonely in there for her." This comes after The Sun revealed that Harrison has sensationally decided to leave the villa. Footballer Harrison Solomon, 22, decided to leave the show after being involved in a hugely dramatic love triangle with Toni and Casa Amor bombshell Lauren. Harrison left the villa late on Thursday night and will be heading home soon, with his exit scenes yet to air. A source told us: "It's been a momentous few days for Harrison and ultimately he has decided to quit. "Everyone was so shocked and people were crying and hugging him. "He worked through everything with the ITV duty of care team and is making his way home to his family now." While in the villa, Harrison was slammed by fans for being embroiled in the love triangle with Toni and Lauren. He had formed a bond with Toni as soon as he entered the villa, but then got close to Helena before going back to Toni. Casa Amor then came around and both Toni and Harrison got their heads turned. Toni by Cach and Harrison by Lauren. 4
Bloomberg
4 days ago
- Business
- Bloomberg
US Solar Makers File Trade Petition Against India, Indonesia
US solar manufacturers said they have filed new trade petitions against India, Indonesia and Laos that allege illegal practices by largely Chinese-owned companies operating in those countries. The new anti-dumping and countervailing duty petitions were filed by the Alliance for American Solar Manufacturing and Trade, which includes First Solar Inc., Mission Solar Energy and Qcells. The trade group said it had identified alleged illegal subsidies and dumping margins in the three Asian countries.
The Sun
5 days ago
- Entertainment
- The Sun
‘Diabolical' rant Love Island fans who demand Casa Boy goes home after he throws ex under the bus seconds after split
LOVE Island fans have demanded one of the boys be sent home after he threw his ex under the bus - minutes after they split. Last night's episode of Love Island saw Tommy Bradley and Lucy Quinn dumped when Shakira Khan and Casa boy Ty Isherwood chose to send them packing. 3 3 3 Shakira also ended up dumping Ty, confessing she wanted to crack on with Conor Phillips. As a result, Ty wasted no time in insisting the decision to axe Tommy and Lucy was Shakira's and not his. He was seen speaking to Meg Moore and Helena Ford, despite their bumpy relationship with Shakira - and fans were not impressed. One wrote: 'F*** TY for immediately dissing shakira to her opps in the house and laughing with them, you can go home next.' Another said: 'Ty going straight to shakira's opps diabolical.' And a third added: 'Ty is not nice he went to Meg Helena to speak bad about Shakira! At least Conor is nice to Shakira.' Shakira chose to couple up with Ty after the Islanders were reunited following the Casa Amor twist. But last night she told him: "Being completely honest, right now my head would be with Conor." Ty replied: "I appreciate your honesty." Shakira left fans divided with her decision to break things off with Ty. One wrote: "She could have just stayed with him until the end and easily won… but she followed her heart not the money." But another said: "Poor Ty :( He does deserve someone for him."
