Sisi Chan

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

Introduction: The Canadian steel industry has shown a preliminary approval for the new measures implemented by Prime Minister, Mark Carney, to bolster the domestic market amidst U.S. tariffs.

New Measures: Mark Carney’s newly announced measures target a tightening on quotas for foreign steel entering the country and a cut on freight rates when crossing provincial borders.

Industry Reaction: Catherine Cobden, the CEO of Canadian Steel Producers Association, has voiced her appreciation for the new measures. However, she insists that this is not enough to compensate for the losses suffered in the U.S. market.

Remissions Programme: Cobden also expressed disappointment over the extension of Canada’s remissions program for steel importers. She anticipates further actions from the federal government towards bringing the program to a conclusion.

More videos: For further information and relevant discussions, you may want to explore our additional video and article links.