Sisi Chan

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

The steel industry has benefited from the new measures introduced by Prime Minister Mark Carney, despite its disappointment over certain issues. Related News Here

The new measures aim to stimulate domestic steel and lumber markets. These include tighter quotas and reduced freight rates, which are expected to bolster the industry’s competitiveness.

Catherine Cobden, CEO of the Canadian Steel Producers Association, has expressed concerns that these measures, despite their benefits, may not compensate for the loss of access to the U.S. market. The industry is therefore in need of further relief.

The industry has expressed its discontent with the Ottawa’s decision to extend the remission program, allowing certain steel importers to circumvent retaliatory tariffs – for the second time.

Cobden has taken a firm stance on this issue, vowing to hold the federal government accountable to its promise of ending the remission program by the end of January.