Sisi Chan

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

The Canadian steel industry has provided a mixed response to Prime Minister Mark Carney’s recent steps to boost domestic market amidst the U.S. tariffs.

The new measures include stricter quotas on foreign steel coming into Canada and a commitment to reducing freight rates for inter-province material transfers.

Catherine Cobden, the CEO of the Canadian Steel Producers Association, commends the measures. However, she notes that these steps don’t entirely compensate for the loss of access to the U.S. market, but are a beneficial move towards relieving the steel industry’s strain.

Cobden has spoken up about her discontent regarding Ottawa’s second extension of Canada’s remission program for certain steel importers which, in her opinion, waters down Ottawa’s retaliatory tariffs on U.S. steel.

Her plan is to hold the federal government accountable for its assurances, emphasizing the importance of concluding the remission scheme by the end of January.

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