Sisi Chan

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

The steel industry in Canada has voiced support for the recently announced measures by Prime Minister Mark Carney, but also expressed discontent regarding a specific element of the plan.

New measures outlined by Carney aim to bolster the domestic steel and lumber markets. The twofold strategy includes the imposition of stricter quotas on imported steel and the reduction of interprovincial transportation freight rates.

In the spotlight, the CEO of the Canadian Steel Producers Association noted the steps as constructive, but inadequate to fully offset the losses triggered by the U.S. market deprivation.

The industry’s stance on Canada’s second extension to the remission program for critical steel importers has also been highlighted. The extension is perceived to water down the countervailing tariffs Ottawa enforced on U.S. steel.

In light of these changes, CEO Catherine Cobden asserted the intent to keep the federal government accountable for its commitments concerning the discontinuation of the remission program.