Sisi Chan

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

The head of Canada’s steel industry association responded to Prime Minister Mark Carney’s new measures to boost the domestic market in response to U.S. tariffs. Legal measures and government decisions came under focus.

Prime Minister Carney announced new initiatives supporting the steel and lumber industries in Canada. The paragraph shed light on the future plans and strategies.

Details of the measures included tightening quotas on foreign steel and lowering freight rates for domestic material transportation. The suggested actions and their potential outcomes were mulled over.

Catherine Cobden, CEO of the Canadian Steel Producers Association, stated the measures won’t fully offset losses from the U.S. market but took note of their positive impact.

Cobden also voiced her grievances regarding Ottawa’s decision to prolong the remission program for steel importers. This move, she expressed, diminished the impact of Canada’s retaliatory tariffs on U.S. steel.

In conclusion, Cobden urged the federal government to stand by its promise to end the remission program, noting that its termination had already been delayed by over three months from the intended timeline.