Sisi Chan

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

The introduction paragraph: There are mixed reactions in the Canadian steel industry to Prime Minister Mark Carney’s measures meant to stimulate the domestic market amidst U.S. tariffs.

Measures Announcement: Carney announced new measures aiding steel and lumber producers to find new markets within Canada. These measures include stricter quotes on foreign steel and reduced freight rates.

Response from Canadian Steel Producers Association: Catherine Cobden, the CEO of Canadian Steel Producers Association, voiced that these measures might not counterbalance the loss of access to the U.S. market, though they are a step in the right direction.

Criticism on government actions: There has been disappointment expressed within the industry over Ottawa’s second extension of Canada’s remission program for some steel importers. Retaliatory tariffs on U.S. steel were also mentioned.

Future expectations: Cobden emphasized that the federal government needs to stand by its commitment of ending the remission program by end of January.