Sisi Chan

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

The head of the Canadian steel industry has acknowledged PM Mark Carney’s efforts to fortify the domestic steel market, yet voices dissatisfaction. For more about Carney and U.S. tariffs click the links.

New Measures: Recently, PM Carney announced strategic measures to aid steel and lumber manufacturers. Details can be found at the news source here. These initiatives include strict quotas on foreign steel and cutting freight costs for province-wide deliveries.

Cautious Optimism: Catherine Cobden, CEO of Canadian Steel Producers Association, cautiously appreciates the new measures. Despite their potential benefits, she believes the measures are not commensurate to the loss sustained due to decreased access to the U.S. market.

The steel industry isn’t pleased with Ottawa’s continued extensions of remission program for some steel importers, claiming it dilutes the effect of retaliatory tariffs on U.S. steel.

Carney has vowed to conclude this remission program by January end, three months past the initial deadline. Cobden is poised to ensure the federal government lives up to this promise.