Sisi Chan

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

Catherine Cobden, CEO of the Canadian Steel Producers Association, expressed some disappointment despite the newly announced measures to stimulate Canada’s steel market. Decisions include tighter quotas on foreign steel and reduced freight charges for domestic transport. Links related to Mark Carney’s similar announcement and the U.S. tariffs tag can be found embedded in respective tags.

The article discusses additional measures launched by Mark Carney to assist steel and lumber manufacturers in exploring new markets within Canada. Related news about Mark Carney’s announcement can be found in the linked tag.

Details of the actions taken include stricter quotas on foreign steel and reducing freight charges for interprovincial transportation of materials.

Catherine Cobden expressed the potential insufficiency of these measures to compensate for the loss from the U.S. market, nevertheless recognizes them as a step towards relief for the struggling industry.

Cobden is dissatisfied with Ottawa’s choice to extend remission programs for certain importers, thereby undermining their retaliatory tariffs on U.S. steel.

Applying pressure on the government, Catherine Cobden will hold the federal government accountable to the promise that the remission program will wrap-up by the end of January, a three-month extension from the original deadline.