Sisi Chan

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

Head of the steel industry association expressed dissatisfaction on certain aspects of the aid package recently rolled out. Prime Minister Mark Carney’s new tariff measures aiming to counterbalance the U.S. tariffs were met with a lukewarm response.

The new measures introduced by Carney aim to boost the domestic industry. A focus on finding fresh markets and reducing freight rates can potentially provide a much-needed impetus.

Catherine Cobden, CEO of Canadian Steel Producers Association, expressed her concern. She opined that while the new measures are a step in the right direction, they fail to compensate fully for the losses borne due to reduced exports to the U.S. market.

Industry representatives conveyed disappointment in Ottawa’s decision to extend its remission program. The mention of retaliatory tariffs on U.S. steel also echoed in the corridors.

Catherine Cobden pledged to hold the government accountable until the termination of the remission program. This action is seen as an aspect of larger industry efforts to keep the government in check on their promises.