Sisi Chan

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

The Canadian steel industry reacts with partial approval to new tariff measures put forth by Prime Minister Mark Carney. While the changes present some benefits, a sense of disappointment persists.

PM Carney has announced measures aimed at aiding Canadian steel and lumber producers, highlighted by tighter quotas and a promise to reduce freight rates.

Catherine Cobden, CEO of the Canadian Steel Producers Association, voiced her thoughts on the new measures. She suggests they signify progress, but will not fully offset losses stemming from limited access to the U.S market.

The industry expressed displeasure regarding the government’s second extension to the remission program for steel importers due to its potential weakening effect on Canada’s retaliatory tariffs against U.S. steel.

The Canadian Steel Producers Association harbors expectations from the government, specifically for the termination of the remission program by the close of January, as promised.