Sisi Chan

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

Canada’s steel industry is reeling from the impact of Mark Carney’s new measures while expressing disappointment on one issue.

Major development: Carney has put forth measures to aid steel and lumber producers which include tighter quotas on foreign steel and lower freight rates.

Catherine Cobden, CEO of the Canadian Steel Producers Association, states that while these measures won’t fully make up for the U.S. market loss, the industry appreciates the support.

However, the industry is displeased with Ottawa’s decision to prolong a remission program for certain steel importers – a move Cobden believes undermines Ottawa’s retaliatory tariffs on U.S. steel.

She promises to keep the federal government on its toes to fulfill its pledge of ending the remission program by January’s end.