Sisi Chan

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

In a bid to cushion Canada’s steel industry against the brunt of U.S. tariffs, Prime Minister Mark Carney has introduced new measures. The measures include tighter restrictions on foreign steel imports and cuts in inter-province freight rates. Catherine Cobden, head of the Canadian Steel Producers Association, has expressed a note of criticism specifically, the extension to Canada’s remission program for certain steel importers.

The big picture: The extension to the remission program is set to end by January. This implies importers would be liable for paying duties on imported steel, which had been previously exempted under the program.

Industry representatives hail the measures but insist that more actions are necessary for the survival and growth of the steel industry amidst mounting external pressures.

The listed videos illustrate the recent developments in detail along with expert comments on their potential implications for the Canadian steel industry.