Sisi Chan

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

The Canadian Steel Producers’ Association expresses disappointment over one aspect of Prime Minister Mark Carney’s recent measures. However, the industry also sees a glimmer of hope.

Major Announcement: Mark Carney has announced new measures aiming to bolster the domestic steel market, heralded as a step in the right direction by industry leaders.

Details about these measures reveal stricter quotas on foreign steel imports and lower freight rates for materials transported by rail, designed to give a much-needed boost to the Canadian steel industry.

Catherine Cobden, the CEO of the Canadian Steel Producers Association, states that while the measures are somewhat beneficial, they do not entirely offset the U.S. market loss.

The extension of Canada’s remission program stirs discontent within the steel industry, seen as a missed opportunity to further help affected producers.

Looking ahead: Cobden affirms she will hold the federal government accountable for scheduled termination of the remission program by the end of January, setting the stage for further confrontations.