Sisi Chan

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

Canadian Steel Producer’s Association CEO: Prime Minister Mark Carney’s proposed package designed to bolster the domestic market against U.S tariffs was met with some disappointment.

Prime Minister Mark Carney introduced new aid measures to help steel and lumber producers establish new markets within Canada. In a statement, Carney announced new measures Wednesday.

New Measures: These consisted of tighter quotas on foreign steel entering Canada and a commitment to reduce freight rates for materials moving across provincial borders by rail.

Industry expert Catherine Cobden commented that while these measures might not fully replace the loss of U.S. market access, they would provide some relief to the steel industry.

Cobden was disappointed with Ottawa’s second extension of Canada’s ‘remission’ programme, which she claimed weakens Ottawa’s retaliatory tariffs on U.S. steel.

Cobden optimistically expects that the federal government will follow through on promises to end the remission program by the end of January.