Sisi Chan

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

Introduction: Despite appreciating the liberating measures for domestic market, the Canadian Steel Industry’s CEO expressed that Prime Minister Mark Carney’s actions don’t sufficiently mitigate the adverse impacts of U.S. tariffs.

New Measures Announcement: PM Carney announced measures to invigorate domestic steel and lumber markets, notable among them being stricter quotas on foreign steel and cut-down freight rates.

Reaction and Future expectations: Catherine Cobden, industry representative, aired her concern over disappearing access to the U.S. market. She exudes anticipation for more relief measures for their embattled industry.

Criticism on Remission Extension: The decision to push the remission program’s deadline disappointed the industry, which Cobden claims waters down the retaliatory tariffs on U.S. steel.

Assurance from Federal Government: Cobden expresses hope in the promises of the federal government to halt the remission program by January end.