Sisi Chan

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

Despite welcoming new tariff measures by PM Carney, the head of Canada’s steel industry association says there was one disappointment: the extended remission program for some steel importers.

On Wednesday, Carney announced a package of measures designed to help steel producers find fresh markets within the country, featuring tighter quotas on foreign steel and reduced freight rates.

However, Catherine Cobden, CEO of the Canadian Steel Producers Association, suggests those measures likely won’t fully compensate for the loss of access to the U.S. market.

It seems Ottawa fell short of expectations when it decided to extend Canada’s remission program: Cobden expresses disappointment at the decision, which lowers Canada’s retaliatory tariffs on U.S. steel.

Nonetheless, Cobden states she will be holding the federal government to its word that the remission program would conclude by the end of January.