Sisi Chan

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

Canada’s steel industry has responded to the latest tariff measures announced by Prime Minister Mark Carney amid the ongoing U.S. tariffs dispute.

The recently revealed measures aim to support the steel and lumber producers with a reduction in freight rates and stricter quotas on foreign steel imports, allowing for new market opportunities and easier interprovincial materials transportation. More details here

Catherine Cobden, CEO of The Canadian Steel Producers Association, expressed doubts whether the new measures will fully compensate for the loss of the U.S. market, but also recognized the steps as a positive development.

Criticism has been leveled at the extension of Canada’s remission program and its effect on the steel industry, with many expressing ‘disappointment’ at the second extension.

Cobden expects the federal government to adhere to Carney’s promise of ending the remission program by the end of January. Read more