Sisi Chan

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

The head of Canada’s steel industry association and Prime Minister Mark Carney are key players in this story. They are reacting to new tariff measures which, despite beneficial, are not completely addressing the domestic market issues.

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Prime Minister Carney announced new measures intended to connect steel and lumber producers with fresh markets within Canada.

The measures include tighter quotas on foreign steel entering Canada and appeals for a decrease in freight fares.

Catherine Cobden, CEO of the Canadian Steel Producers Association, opines that while these measures don’t fully compensate for the loss of the U.S. market, they’re a promising start.

Industry disappointment followed the announcement of a second extension to Canada’s remission program for some steel importers.

Cobden remains hopeful that the remission program will conclude as promised, indicating continued concern for the future of the Canadian steel industry.