Sisi Chan

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

The article discusses the responses from Canada’s steel industry to new tariff measures introduced by Prime Minister Mark Carney, aimed at boosting the domestic market amidst U.S. tariffs. However, it also highlights some dissatisfaction, suggesting the need for further action.

Carney’s New Measures

The big picture:

Prime Minister Mark Carney has introduced new measures that include tighter quotas on foreign steel entering Canada and a commitment to lower freight rates for materials crossing provincial borders by rail.

Industry Reaction

The reaction of Catherine Cobden, the CEO of Canadian Steel Producers Association, to these new measures was mixed. She believes they are a step in the right direction but not sufficient to compensate for the loss of access to the U.S. market.

Criticism of Ottawa’s decision

Cobden expressed disappointment at Ottawa’s decision to extend the remission program for some steel importers. She argues that this decision weakens Ottawa’s retaliatory tariffs on U.S. steel.

Closure of the Remission Program

The article states that Cobden will hold the federal government accountable to their word after Carney assured that the remission program would conclude at the end of January.

More Videos

A list of titles and links to related videos are provided. While not explored further in the text, they offer more insight into the overall discussions surrounding the new tariff measures and their impact on the Canadian steel industry.