Sisi Chan

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

A disconcerting note struck amidst the generally positive resonance as Canada’s steel industry association president critiques the recently rolled out tariff measures.

Prime Minister Mark Carney announces new measures: Designed to benefit steel and lumber producers, these strategic actions encompass tightening quotas for foreign steel and slashing freight rates for inter-province deliveries.

Catherine Cobden, CEO of Canadian Steel Producers Association, voices skepticism: She expresses concerns over the adequacy of these measures following the Canadian steel industry’s lost access to the U.S. market.

Extension of Canada’s remission program invites dissatisfaction: Despite being a largely favorable package, the industry shows discontent with the extension of the remission program for steel importers. Cobden anticipates a commitment to ending the program by January’s close.