Sisi Chan

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

The chair of the steel industry association in Canada is unimpressed by one aspect of Prime Minister Mark Carney’s new action plan for the sector.

Unveiling the Initiative: New measures are introduced to stimulate local steel and lumber industries by internally promoting these markets.

These unparalleled measures incorporate stricter regulations on foreign steel exports and reduced freight charges for domestic transport of resources.

Industry Verdict: Catherine Cobden, from the Canadian Steel Producers Association, argues that whilst the actions taken are appreciable, they fail to counterbalance the loss inflicted by the decline in the US market.

Cobden expresses her dissatisfaction over Canada carrying forward its remission program, a move which attenuates Ottawa’s rebuttal tariffs on U.S. steel.

In conclusion, Cobden affirms her strong intention to enforce the government’s commitment to terminate the remission program by the end of January, an extension well beyond the preset deadline.