Sisi Chan

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

Introduction and Point of View of Canada’s Steel Industry: Head of Canada’s steel industry association expresses tempered satisfaction towards new tariff measures initiated by Prime Minister Mark Carney, noting areas of disappointment.

Measures Announced by Mark Carney: Carney announces initiatives to assist steel and lumber producers explore new domestic markets. These measures include tighter quotas on foreign steel and reduced freight rates for materials.

Catherine Cobden’s Reply to the New Measures: Catherine Cobden, CEO of Canadian Steel Producers Association, acknowledges that these initiatives won’t completely balance the loss of access to the U.S. market, yet commends them as progress.

Industry Disappointment and Catherine Cobden’s Expectations: The extension of Canada’s remission program for steel importers is met with disappointment. Cobden pledges to hold the federal government accountable to its promise to conclude the remission program by end of January.