Sisi Chan

Steel sector praises new tariff measures, but says more needs to be done

Introduction: Canada’s steel industry has had mixed reactions to Prime Minister Mark Carney‘s new measures aiming to boost the domestic market. The measures have been received as helpful, but with a hint of disappointment

The New Measures: Included in Carney’s plan are tighter quotas on foreign steel entering Canada along with a reduction in freight rates for materials crossing provincial borders.

CEO’s Reaction: Catherine Cobden, CEO of the Canadian Steel Producers Association, voices her concern that the new measures may not be enough to balance the lost access to the U.S. market, despite it being a step in the right direction.

The disappointment: The steel industry has expressed discontent regarding the extension of Canada’s remission programme for certain steel importers, diminishing the effect of Ottawa’s retaliatory tariffs on U.S. steel.

Looking forward: Cobden intends to hold the federal government accountable because of Carney’s pledge that the remission program would conclude in January.