February 1, 2025 (Toronto) – Statement from Keanin Loomis, President and CEO of the Canadian Institute of Steel Construction:
“The Canadian Institute of Steel Construction is disappointed with today’s announcement that the United States has invoked the International Emergency Economic Powers Act (IEEPA) to implement a 25 per cent additional tariff on imports from Canada and Mexico, with a 10 per cent tariff on Canadian energy resources.
Canada and the United States share one of the closest trading relationship in the world, to the benefit of both our countries. Specifically, our steel industries are closely intertwined with fabricators and manufacturers relying on trade between our two countries to deliver vital products and services. These tariffs, and potential retaliatory tariffs on these products, will hurt both economies and disrupt our integrated supply chains.
The CISC anticipated this development, and we will continue to keep our members informed of the latest measures and available supports as they unfold while continuing to be a vocal advocate for fair trade policies that protect and support the steel industry and the greater Canadian economy. To maximize these efforts, we will continue to work alongside like-minded stakeholders and the Canadian Government.
Financial supports for workers and businesses in the sectors most heavily affected by the tariffs on cross border trade, including steel fabrication and construction, should be introduced. The CISC will participate in any government consultations regarding retaliatory measures to protect the interests of the Canadian steel sector.”
