Sisi Chan

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

Canada’s steel industry association reports satisfaction with recent measures to boost the domestic market against U.S. tariffs. The role of PM Mark Carney in the decision has been of particular interest.

The new measures introduced by Carney aim to assist steel and lumber industries. These encompass tighter quotas on foreign steel and reductions in the freight rates for materials crossing provincial borders by rail.

In the next development, Catherine Cobden, CEO of the Canadian Steel Producers Association, replied to the measures’ effectiveness. She also mentioned concerns about a remission program for some steel importers.

Cobden expressed fear that the remission program could undercut Canada’s retaliatory tariffs on U.S. steel, stressing that the program is scheduled to conclude in January.