Sisi Chan

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

Canada’s steel industry: The CEO of Canada’s steel industry shows partial acceptance of the measures recently proposed by Prime Minister Mark Carney. These measures, aimed at bolstering the domestic market affected by U.S. tariffs, are a step towards relief.

New strategies proposed by Carney for the betterment of Canadian steel and lumber producers include enforcing strict quotas for foreign steel entering the country and decreasing rail freight rates for materials moved across provinces.

Canadian Steel Producers Association: According to Catherine Cobden, CEO of the Canadian Steel Producers Association, these measures might not fully balance the losses caused by limited access to the U.S. market. However, they could offer a strong start for the struggling industry.

Cobden shows disillusionment at Ottawa’s decision to extend the remission program for some steel importers, expressing her belief that it undermines the retaliatory tariffs on U.S. steel.

In conclusion, there is hope in the air as Cobden looks forward to the federal government upholding its promise to terminate the remission program by late January, which is over three months past the original deadline.