Sisi Chan

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

The response of Canada’s steel industry association to tariff measures introduced by Prime Minister, Mark Carney, was mixed. While acknowledging the efforts, there’s a sense of unfulfilment as well.

New Measures by Carney: Carney introduced measures to boost the domestic steel market. These include tighter quotas on foreign steel and reduced freight rates for materials being shipped across provinces.

CEO’s reaction: Catherine Cobden, CEO of Canadian Steel Producers Association, believes that although the new measures are crucial, they won’t fully cover the loss forced by the U.S. market’s inaccessibility.

Disappointment with Ottawa’s Remission Program: The industry voices its disappointment over Ottawa’s decision to extend the steel importers’ remission program, which significantly lowers retaliatory tariffs on U.S steel.

Cobden’s promise: Cobden expresses her intention to keep the federal government accountable as Carney promised the remission program’s conclusion by January end, over three months later than planned.

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