Sisi Chan

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

The head of Canada’s steel industry association gives a nod to Prime Minister Mark Carney’s newly announced measures, citing a generally positive reaction.

On Wednesday, Carney announced strategic measures to assist steel and lumber producers in diversifying their local markets.

Noteworthy amongst them includes stricter quotas on foreign steel entering Canada, seen as a move to stimulate domestic industries.

Catherine Cobden, CEO of the Canadian Steel Producers Association, states that while helpful, these measures likely fall short of meeting the crucial needs of the industry.

The extension to Canada’s remission program, announced by Ottawa, has been met with disappointment within the industry, Cobden reveals.

While keeping a watchful eye on the government’s intervention, Cobden is hopeful of substantial follow-through on their announced initiatives by the end of January.