Sisi Chan

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

The head of Canada’s steel industry has expressed disappointment in the measures taken by Prime Minister Mark Carney to invigorate the domestic market, despite them being generally well received.

On Wednesday, Carney introduced new measures designed to assist steel and lumber producers in finding new markets.

The introduced measures include tighter quotas on foreign steel and a pledge to reduce freight rates for materials moving across provincial borders.

Catherine Cobden, CEO of the Canadian Steel Producers Association, says that these new measures are unlikely to fully offset the loss of access to the U.S. market.

There is also disappointment over Ottawa’s second extension of the remission program for steel importers, which weakens Ottawa’s retaliatory measures against U.S. steel.

More on Canada:

• list of related news links