CITT report exempts tool steels from tariffs
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The Canadian International Trade Tribunal has issued a report that accepts the recommendations of the Canadian tool...
The Canadian International Trade Tribunal has issued a report that accepts the recommendations of the Canadian tooling industry and removes the majority of tool steels from any tariff that may be placed on imported steels. Horst Schmidt, director of the Canadian Tooling and Machining Association, told a recent joint CAMM/CTMA meeting that the Tribunal’s report grants a tariff exemption to all tool steels, with the exception of “thin tool steel and some grades of bar stock”. The tooling industry has been seeking a tariff exemption for tool steels since the CITT announced it would conduct a “safegaurd” inquiry to determine if tariffs on imported steel were needed to protect domestic steel producers.
The tool steel tariff exemption faces one more hurdleapproval by the federal government. A vote on approving the CITT report is expected in Parliament this fall.