Sisi Chan

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

The article establishes a global context on the latest tariff measures implemented by Prime Minister Mark Carney. These new measures aim to control the effects of US tariffs on the regional industry.

Understanding the New Policies: The policies put forth by PM Carney encompass stricter quotas on foreign steel and a decrease in freight costs for crossing provincial borders in a bid to bolster the domestic industry.

Reacting to the changes, Catherine Cobden, CEO of the Canadian Steel Producers Association, feels that the changes are essential but may not be enough. Her criticism is mainly targeted at the extension of the remission program.

The industry’s future expectations hinge heavily on the government’s actions. Cobden and the Canadian Steel Producers Association are optimistic but circumspect. They are particularly keen to observe the aftermath of Carney’s pledge to wrap up the remission program.