Sisi Chan

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

While appreciating the newly introduced tariffs by Prime Minister Mark Carney and U.S., the Canadian steel industry insists additional actions are necessary. The big picture:cThe industry desires more support amidst the new trade environment.

New measures emphasizing stricter quotas on foreign steel and reduced freight costs have been launched by Carney with hopes of stimulating the steel and lumber sector in Canada.

The CEO of Canadian Steel Producers Association, Catherine Cobden, while acknowledging that these measures are beneficial, expresses that they may fail to entirely offset the loss incurred due to reduced access to the U.S. market.

The industry voices disappointment over the extension to Canada’s remission program, that possibly challenges Canada’s retaliatory tariffs on U.S steel.

Catherine Cobden assures to hold the federal government accountable for terminating the remission program by the end of January, which is later than the original deadline.