Sisi Chan

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

New measures meant to stimulate the domestic market have been introduced by Prime Minister Mark Carney. However, these measures have left the head of Canada’s steel industry association feeling unsatisfied on a critical point.

Prime Minister Carney declared new measures to support the steel and lumber producers in Canada.

The pivotal measures introduced include firmer quotas on foreign steel and a reduction in freight rates for materials crossing provincial lines via rail.

Catherine Cobden, CEO of the Canadian Steel Producers Association, expressed her views on these measures, warning they could fall short in offsetting the loss of the U.S. market.

There is discontent regarding a recent announcement by Ottawa for a second extension to Canada’s remission program.

CEO Cobden stressed that the remission program, due to end in January, fails to deliver on the government’s promises.