Sisi Chan

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

Recent actions by PM Mark Carney stimulate both applause and critique from the Canadian steel industry leadership. While the new measures are well-received, a residual discontent lingers.

New Measures: PM Carney unveils strategies to fortify the domestic Canadian steel and lumber industry against U.S tariffs. Notable measures include stringent quotas on foreign steel and reduction in certain freight rates for inter-provincial commodities.

The Steel Industry’s Response: Criticism emerges via Catherine Cobden, CEO of the Canadian Steel Producers Association. Despite recognizing the developments as a positive move, Cobden declares the measures inadequate to balance the loss from the U.S market.

Cobden’s frustration peaks with Ottawa’s decision to continue remission for some steel importers. This, she argues, undermines the retaliatory tariffs on U.S steel. Notwithstanding the disappointment, Cobden reveals optimism towards PM Carney’s commitment to ending the program by January’s end.