Sisi Chan

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

Despite praising many of the new measures launched by Prime Minister Mark Carney for the Canadian steel industry, the sector’s top figurehead expresses a sense of disappointment regarding one policy in particular.

The new policies, as outlined by Carney, impose stringent quotas on imported steel and aim to significantly reduce rail freight rates across the provinces.

Catherine Cobden, CEO of the Canadian Steel Producers Association, voices her concern that these measures, though approved, will not entirely offset the U.S. market loss but indicate a helpful move towards mitigating industry issues.

The extension of Canada’s remission program, a weakening factor for retaliatory tariffs on U.S. steel, is the source of the steel industry’s discontent.

In the future, Cobden expects more assertive actions by the Federal government regarding the cessation of the remission program.

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