Sisi Chan

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

Head of Canada’s steel industry association voices the sector’s stance: The Prime Minister’s attempt to aid the domestic market was seen as essentially supportive, despite a few criticisms from the industry.

Details of the PM Mark Carney’s new measures to aid steel and lumber producers have been provided, aimed at facilitating new market opportunities within Canada.

Key actions undertaken include tightening quotas on foreign steel coming into Canada and a pledge to reduce freight rates for materials transported across provincial borders via rail.

Despite not fully compensating for the reduced access to the U.S. market, the CEO of the Canadian Steel Producers Association views these measures as progressive steps.

Catherine Cobden conveys her dissatisfaction regarding Ottawa’s decision to extend Canada’s remission program for certain steel importers, diluting the retaliatory tariffs on U.S. steel.

A promise by the federal government is set to wrap up the remission program by the end of January, with Cobden vowing to hold the government accountable to this deadline.