Sisi Chan

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

The Canadian steel industry commended several aspects of the new tariff plan implemented by Prime Minister Mark Carney, however, they expressed disappointment towards certain elements. This sentiment was particularly brought forward by Catherine Cobden, CEO of the Canadian Steel Producers Association.

The package was designed to bolster Canadian steel and lumber producers who have been grappling with international competition. The measures included tightening quotas on foreign steel and offering reduced freight rates for domestic companies. However, the extension of Canada’s remission program for steel importers was met with disappointment.

Catherine Cobden in her commentary on the new measures, pointed towards the extension of Canada’s remission program as the primary disappointment. This was despite the program’s imminent wrap-up scheduled for late January.

Overall, Cobden shares some optimistic views about the future of the industry given the government’s promises, while her disappointment casts a shadow on the effectiveness of the newly introduced measures. As a result, the steel industry is cautiously hopeful about what these developments might mean for their future.