Sisi Chan

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

Introduction: Canada’s steel industry has given a mixed review to Prime Minister Mark Carney’s new tariff measures. The steel sector acknowledges the measures but has also voiced disappointment. Key mention of: Canada’s steel industry association.

New Measures Announced: The new measures announced by Carney aim to support steel and lumber producers by creating domestic markets. Highlight on: steel, lumber, foreign steel and freight rates.

Opinion of the Canadian Steel Producers Association: CEO Catherine Cobden asserts that the measures won’t compensate fully for loss of the US market. However, she considers them a step ahead. Primary point: loss of access to U.S. market, industry in desperate need of relief.

Disappointments and Promises: The steel industry has both disappointments and expectations related to the extension to Canada’s remission program and retaliatory tariffs on U.S. steel. Important mentions: second extension to Canada’s remission program, retaliatory tariffs on U.S. steel.

Government Accountability: Cobden intends to hold the federal government responsible for ending the remission program by the end of January. Crucial point: remission program ending by end of January.