Sisi Chan

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

The big picture: The head of Canada’s steel industry association provides a mixed review of Prime Minister Mark Carney’s tariff measures, acknowledging their potential, yet expressing dissatisfaction.

New measures unveiled by the Prime Minister aim to invigorate the domestic market, though no specific details are given in this context.

The policies include tighter quotas on foreign steel and reduced transportation costs for essential materials, although this section does not offer any in-depth analysis or elaborate tables.

In the spotlight: Catherine Cobden, a key figure in the industry, believes the new measures may not make up for losses due to the blocked U.S. market, though they could steer the sector in the right direction.

An area of major concern within the industry is the extension of the remission program, which further weakens Ottawa’s retaliation towards U.S steel tariffs.

In response to Carney’s intent to wrap up the remission program, Cobden appeals for a strict deadline, ideally by the end of January.