Sisi Chan

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

Opening Statement: The President of the Canadian Steel Producers Association expressed satisfaction, albeit partial, regarding new measures initiated by Prime Minister Mark Carney intending to uplift the domestic market in light of U.S tariffs.

The New Measures Announced: The new measures revolve around Prime Minister Mark Carney laying forth regulations designed to assist steel and lumber producers in discovering new markets within Canada, while also lowering freight rates for materials crossing provincial borders.

Industry Response: The CEO of Canadian Steel Producers Association, Catherine Cobden, commended the steps taken, but raised concerns that the loss of access to U.S. market might still remain uncompensated.

Concern Over Remission Program: The steel industry expresses disappointment over Ottawa’s decision to grant a second extension to Canada’s remission program, thereby diluting Ottawa’s retaliatory tariffs on U.S. steel.

The Promised Deadline: Cobden announced her intention to hold the federal government accountable for their promise that the remission program would terminate at January’s end.