Sisi Chan

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

The head of Canada’s steel industry association has provided perspectives on the new measures taken to propel the domestic steel market amid current U.S. tariffs. The measures were introduced by Prime Minister Mark Carney.

Prime Minister Carney has announced measures in favour of the steel and lumber industry prompting interest. For more details on the measures, see related news.

Key Measures: The steps include tighter quotas and the reduction of freight rates.

Catherine Cobden, head of the industry, expressed that the measures might not completely compensate for the loss from the U.S market but it’s still a positive step.

However, the industry feels underwhelmed as Ottawa decided to extend the remission program which allegedly weakens the retaliatory tariffs on U.S. steel.

This remission program came to a close three months beyond its original deadline at the end of January.