Sisi Chan

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

The Canadian steel industry is slightly discontent with the new tariff measures rolled out by Prime Minister Mark Carney. Despite the measures, the industry association shows a sense of dissatisfaction.

PM Carney introduced various endeavours to vitalize the domestic market. Tighter quotas on foreign steel and freight rate reduction are among the key highlights.

Catherine Cobden, CEO of the Canadian Steel Producers Association: Despite acknowledging the government’s actions, believes they won’t entirely offset the misfortune brought about by the deprivation of the U.S. market.

The steel industry is disappointed over Ottawa’s resolution to prolong the remission program for certain steel importers. Cobden interprets this move as a dilution of Ottawa’s retaliatory tariffs against U.S. steel supplies.

Cobden, with hopes pinned on the federal government, awaits the conclusion of the remission program as promised by PM Carney by the end of January.