The Government of Canada is taking significant strides towards improving transparency within the steel supply chain. Under the leadership of the Honourable Mary Ng, Minister of Export Promotion, International Trade, and Economic Development, a new initiative has been announced. Effective November 5th, 2024, steel importers will be required to furnish “country of melt and pour” information to the Canada Border Services Agency when completing customs declarations. This requirement is part of Canada’s Steel Import Monitoring Program, aimed at bolstering transparency and accountability in steel imports.
To facilitate a seamless transition, a phased-in approach has been adopted. Importers now have the option to voluntarily disclose data concerning the country of origin where raw steel was initially produced. This proactive measure is designed to ensure a smooth shift to mandatory reporting by the designated deadline in fall 2024. Collaboration between the government and the steel industry is paramount in ensuring compliance and effective implementation of these regulations.
Furthermore, Global Affairs Canada will play a pivotal role in analyzing the reported data. The insights garnered will be instrumental in publishing comprehensive reports on steel import trends. By shedding light on these trends, the initiative aims to foster greater transparency and oversight within Canada’s steel supply chain, thereby promoting fair trade practices and reinforcing the integrity of the market.
