Sisi Chan

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

Canada’s steel industry head raises concerns about Prime Minister Mark Carney’s measures aiming to stimulate the domestic market amidst U.S. tariffs.

Carney’s new measures include restrictions on foreign steel entering Canada and reduced rail freight rates for materials crossing provincial borders, aimed at helping steel and lumber producers find new markets within Canada.

Catherine Cobden, CEO of the Canadian Steel Producers Association, doubts these measures will make up for the lost U.S market, but perceives them as a positive step for the struggling steel industry.

However, dissatisfaction was voiced regarding the continuation of Ottawa’s remission program for some steel importers in critical industries, which reduces Ottawa’s retaliatory tariffs on U.S. steel.

Cobden intends to ensure the federal government honours Carney’s guarantee that the remission program will terminate by the end of January — more than three months after the original deadline.

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