It's great to be fielding questions from Terry in person. Thank you, Terry, for all your hard work on behalf of Canadian steel producers.
Indeed, as you point out, the U.S. market is extremely critical for us. We have two critical markets: the domestic market and the U.S. market. We've done a very good job, as described by other witnesses, of banding together across party lines to create a united front with the Americans on issues that are of significant importance to us.
The first comment I'd like to make is to reiterate the importance of continuing to do that to ensure we address the competitiveness challenges, frankly, that the IRA creates for us.
We've talked a lot about investments around this table today, and I think that is extremely important too. We hope to see that signal in the fall economic statement, but we also need to talk about what more we can do to protect our marketplace—in this case I would talk about the North American marketplace—from unfairly traded goods. This is a very important issue for steel, as you well know. It's one of the reasons the U.S. put section 232 in place on other nations. We got caught up in that, unfortunately, and it was ill-deserved.
We need to be ever mindful that in steel, imports that are high in carbon and unfairly traded cause the biggest problems to Algoma, Gerdau, ArcelorMittal Dofasco—you can name all 13 member companies of the CSPA. Ensuring that we're getting that right is an important signal for essentially dulling around the edges some of the impact of the IRA.
Right now, 69% of the Canadian market is not served by Canadian domestic steel producers. That's unprecedented. We need to be ever mindful of that. It speaks to the point you're making about how we continue the relationship with the U.S. It's so crucial, and one thing we have to show them is that we're doing our homework.
In build back better, we saw a lot of discussion, and in the executive order of President Biden, there was a lot of discussion about domestic and green procurement and so on. We have to get that job done in Canada. We have done a lot of really good work together, but we actually have to bring it into full implementation now.
I hope that gives you an answer, Terry.