Sisi Chan

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

The Canadian steel industry has given a lukewarm reception to a package of measures launched by Prime Minister Mark Carney to stimulate the domestic market. An extension of the remission program for steel importers, in particular, was highlighted as disappointing.

Specific Measures: These include setting tighter quotas for foreign steel and lowering freight rates, an initiative Carney hopes will allow steel and lumber producers to seek new markets within Canada.

Mixed Reactions: CEO of the Canadian Steel Producers Association, Catherine Cobden, voiced her concerns about the industry’s future, stating these measures may not offset the loss of the U.S. market.

Further examination of the package reveals growing unrest about the extension of the remission program. The industry now looks towards the federal government for additional support.

More on Canada