Sisi Chan

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

Steel Association’s Perspective: The steel industry has a mixed reaction to Prime Minister Mark Carney’s measures, expressing concern about the extension of remission program for steel importers, which potentially weakens retaliatory tariffs on U.S. steel.

New Measures: Prime Minister Carney takes major steps to aid steel and lumber producers in Canada. This includes asserting tighter quotas on foreign steel and promising to decrease freight rates for rail-transported materials.

CEO’s Comment: Catherine Cobden, CEO of the Canadian Steel Producers Association, states the measures might not fully offset the loss from reduced access to the U.S. market, yet recognizes the steps as progress.

Future Expectations: Cobden stays positive that the federal government will bring the remission program to a close in January, three months beyond the original deadline.