Sisi Chan

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

Recently, the steel industry expressed discontent with PM Mark Carney’s counteractions against U.S tariffs. Despite praising the overall efforts, the industry believes more should be done. (Mark Carney) (U.S tariffs)

A glimpse into the new measures: PM Carney announced new measures to bolster Canadian steel and lumber producers. These include imposing stricter quotas on foreign steel and promising to lower freight charges for materials crossing provincial lines by rail.

Catherine Cobden, CEO of the Canadian Steel Producers Association commented on the measures, stating that while they may not completely mitigate the loss of the U.S. market, they could provide some respite to the beleaguered industry.

The introduced remission program was a point of disappointment in the steel industry, which was hopes for greater support.

Cobden anticipates holding the federal government accountable to its promise of winding up the remission program by the end of January. This is over three months beyond the initial deadline, keeping the industry on its toes.