Sisi Chan

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

The domestic situation within the steel industry reflects mixed sentiments regarding recent tariff measures by Prime Minister, Mark Carney.

Section 1: While Canada’s steel industry association acknowledges beneficial aspects of PM Carney’s measures, they’ve expressed disappointment, emphasizing the need for further actions, notably against U.S. tariffs.

Section 2: Carney imposed tighter quotas on foreign steel and promised to reduce freight rates in new measures announced Wednesday.

Section 3: Catherine Cobden, CEO of the Canadian Steel Producers Association, claims the new measures might not fully cover the loss of U.S. market access, yet terms it as a valuable effort.

Section 4: The industry conveys disappointment due to the extension of Canada’s remission program, asserting the move potentially weakens the retaliatory tariffs on U.S. steel.

Section 5: Cobden confirms her intent to hold the government accountable, referring to pledges to terminate the remission program by the end of January.