Vancouver condo buyers hit by steel dispute
Condominium buyers in Metro Vancouver are paying extra for their new homes due to a trade dispute over steel rods from Asia. The disagreement could be costing buyers at least $5000 due to interim duty that has been placed on some steel products; producers in Ontario and Quebec want additional duty to become permanent. If a trade tribunal rules to impose additional duty when it meets next week then construction costs could rise further, especially in provinces where imports are generally used. Industry sources in British Columbia say that it could add as much as $10,000 to the cost of a two-bedroom condo.