Sisi Chan

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

The head of Canada’s steel industry expresses disappointment in the newly introduced aid measures, urging for more substantial support to overcome the challenges.

The latest measures announced by Prime Minister Mark Carney aim to foster domestic markets for steel and lumber products, a move seen as a strategic response to recent market shifts.

The CEO of the Canadian Steel Producers Association validates the new measures as a positive initiative, yet questions their adequacy to offset the loss rendered by the U.S. market.

There is discernible disappointment looming over the extension of Canada’s remission program. The program, as critics argue, dilutes the impact of retaliatory tariffs on U.S. steel making the new measures less effective.

Despite the concerns, Carney promises to wrap up the remission program by the end of January, forecasting a strategic trend in the tariff measures impacting the steel and lumber industries.