Sisi Chan

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

Section 1: The head of Canada’s steel industry association evaluates new tariff measures. While Prime Minister Mark Carney’s efforts to bolster the domestic market amidst U.S. tariffs are largely satisfactory, there is one area of dissatisfaction.

Section 2: Carney has rolled out supportive measures to aid steel and lumber producers to find new markets domestically. These consist of tighter quotas on foreign steel entering the country along with a potential cut in freight rates for interstate supplies.

Section 3: Catherine Cobden, the CEO of the Canadian Steel Producers Association, argues that while not entirely nullifying the impact of the U.S. market loss, these measures are a commendable step forward for the struggling steel industry.

Section 4: The sector has expressed concerns over the extension of Canada’s remission program, an initiative perceived by many as tempering Ottawa’s retaliatory tariffs on U.S. steel. Cobden asserts that she will keep the government on its toes about its commitment to wrap up the program by the close of January.