Sisi Chan

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

Introduction: The CEO of the Canadian Steel Producers Association acknowledges the beneficial impact of recent tariff measures by Prime Minister Mark Carney but points out a gap in support. These measures aim to boost the domestic market amidst international tariffs.

Carney announces new measures Wednesday

Measures announced: The newly announced measures by Carney include establishing tighter quotas on foreign steel and reducing freight rates for materials crossing provincial borders by rail.

Steele Association CEO’s comments: Catherine Cobden, CEO of the Canadian Steel Producers Association, doubts the adequacy of the measures in making up for the loss of the U.S. market. However, she admits that these measures provide some much-needed relief for the struggling industry.

Disappointment of the industry: There is reported disappointment in the industry due to Ottawa’s extension of Canada’s remission program and weakened retaliatory tariffs on U.S. steel.

Future measures: Cobden anticipates the federal government to conclude the remission program, a commitment due for January end–considerably overdue from the original deadline.