Sisi Chan

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

Prime Minister Mark Carney introduced new measures expected to impact the Canadian steel industry. We dissect industry’s reaction and the implications of these policies.

Carney’s new tariff measures were recently announced and raised quite the discussion within the sector.

The main changes: includes stricter quotas on imported steel and reduced freight rates. These policies aim to further support the domestic industry.

Catherine Cobden, CEO of the Canadian Steel Producers Association expressed cautious optimism. She underlined industry’s praise for the measures, while also indicating that more could be done.

The extension of the remission program adds a layer of complexity to the situation, bringing both relief and speculation about the industry’s future.

Carney made a promise to end the remission program by the end of January, prompting speculation about what lies ahead for the sector.

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