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…