Sisi Chan

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

Overview: Notwithstanding a mild approval for the tariff measures by the Canadian Government, the chairman of the steel industry expresses discontent. Prime Minister Mark Carney’s newly presented package fails to completely satisfy despite potential benefits for the domestic market in the face of U.S. tariffs.

Measures Announced: The prime minister outlines new measures to bolster steel and lumber producers. The initiatives intend to introduce quotas on foreign steel entering Canada and reducing freight rates for interprovincial materials transit.

Reaction of Catherine Cobden: CEO of The Canadian Steel Producers Association, Catherine Cobden, extends appreciation for the measures, but calls them inadequate. Her main criticism focusses on the extension of Canada’s remission program for certain steel importers.

Closing Statements: As the narrative concludes, Cobden holds the government accountable for its promises and anticipates the foretold end of the remission program in January.