Sisi Chan

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

Ambivalence in the Steel Sector: The head of the Canadian Steel industry appreciates the new aid measures introduced by PM Mark Carney but points out some areas of disappointment.

New Market Opportunities: The Prime Minister introduced these regulations to assist steel and lumber producers in finding new markets within Canada.

Curbing Foreign Imports: The proposed methods include tighter control of foreign steel intake and reduction of freight rates for materials transported across provincial boundaries by rail.

Cautious Optimism: According to Catherine Cobden, the CEO of Canadian Steel Producers Association, though the new measures might not compensate entirely for the loss from the U.S. market, they signify positive steps forward.

Remission Program Blues: The steel industry has displayed dissatisfaction with the extension of Canada’s remission program for some steel importers, which, they believe, weakens Ottawa’s retaliatory tariffs.

Awaiting Accountability: Cobden intends to hold the federal government responsible for the promised termination of the remission program in January, three months later than originally planned.