Sisi Chan

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

Canada’s steel industry shows a nod of approval towards the new measures despite a palpable sense of disappointment. With the U.S. imposing tariffs, Prime Minister Mark Carney has initiated steps to aid the domestic market.

The new measures: To cushion steel and lumber producers from impact, PM Carney announces tighter quotas on foreign steel entering Canada. Additionally, the provision of reduced freight rates will aid the transportation of materials across provincial lines.

Catherine Cobden’s viewpoint: CEO of the Canadian Steel Producers Association, Catherine Cobden, asserts that these measures, while not fully compensating for the loss from the U.S. market exclusion, are a step in the right direction.

Remission program: The steel industry expresses their disappointment at the federal government’s decision to extend Canada’s remission program for steel importers. Cobden asserts this policy weakens Ottawa’s retaliatory tariffs on U.S. steel.

The commitment: Cobden pledges to hold the federal government accountable on its promise to wrap up the remission program by January, three months past the initial deadline.