Sisi Chan

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

The big picture: The leader of Canada’s steel industry association has sounded off on the new tariff measures implemented by Prime Minister Mark Carney.

The new measures involve tightened quotas on foreign steel entering Canada and reduced freight rates for materials crossing provincial borders by rail.

However, not all is rosy: The CEO of the Canadian Steel Producers Association voiced concerns about these measures, particularly their inability to fully offset losses from the U.S. market.

The industry expressed disappointment with Ottawa’s decision to extend the remission program for some steel importers. This, according to them, weakens the retaliatory tariffs on U.S. steel.

The CEO reiterated her call for the government to uphold Carney’s promise to end the remission program by the end of January.