Sisi Chan

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

Prime Minister Mark Carney announced new measures Wednesday aiming to help steel and lumber producers find fresh markets for their goods within Canada. The strategy involves tighter quotas for foreign steel entering the country and reduced freight rates for materials on an interprovincial level.

The Canadian Steel Producers Association CEO Catherine Cobden aired her views on PM Carney’s measures stating they provide some relief to the industry. However, she insists they won’t completely indemnify the loss inflicted by the diminished U.S. market.

The big picture: Frustration grew within the industry when Ottawa announced a second extension to the remission program. This essentially dilutes Ottawa’s retaliatory tariffs on U.S. steel. Cobden vows to hold the government accountable, aiming to terminate the program by the end of January.

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