Sisi Chan

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

Introduction: The CEO of Canadian Steel Producers Association has expressed disappointment with Prime Minister Mark Carney‘s measures to support the steel industry amid U.S. tariffs. However, some of the changes have been found beneficial.

Carney’s New Measures: Mark Carney has initiated new policies to aid steel and lumber industries to find domestic markets. It includes strict quotas on foreign steel import and deduction in inter provincial freight charges.

Industry Reactions: Catherine Cobden, the head of the Canadian Steel Producers Association, feels that while these measures can’t fully replace the loss of the American market, it’s a step in the right direction for the struggling steel industry.

Ottawa’s Remission Program: Cobden has expressed discontentment with Ottawa’s second extension to Canada’s remission program targeted at specific steel importers. According to her, it weakens Ottawa’s retaliatory tariffs on US steel.

Federal Government’s Promise: Catherine Cobden has plans to keep the federal government answerable after Carney‘s assurance that the remission program will end by the end of January, three months after the original deadline.