Sisi Chan

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

Mark Carney’s Measures: Recent measures introduced by Prime Minister Mark Carney focus on bolstering the domestic steel market. These regulatory changes include the implementation of tighter quotas on foreign steel imports and a reduction in freight rates.

Industry Response: Catherine Cobden, CEO of the Canadian Steel Producers Association, acknowledges these efforts. However, she mentions that these adjustments will not fully compensate for the loss of the U.S. market, despite signifying progress for the beleaguered industry.

Extension Concerns: Cobden expresses disappointment with the second extension to Canada’s remission program. She anticipates an eventual conclusion, suggesting it might signal further relief for the steel sector.