Sisi Chan

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

The Canadian steel industry has reacted to recent measures aimed at countering U.S. tariffs. Responses range from cautious optimism to calls for further action.

Canada’s premier introduced new strategies to shield the steel and lumber sectors, including tighter restrictions on foreign steel and decreasing freight costs, in an attempt to open new market opportunities.

The big picture: The CEO of the Canadian Steel Producers Association asserts that these actions may not fully compensate for the lost U.S. market share, indicating complications in the changing trade landscape.

Criticism arises over an extension to Canada’s remission program for steel importers. Despite assurances from the authorities that this program is set to end in January, the industry voices remain disappointed.