Sisi Chan

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

Introduction and Context: The Canadian steel industry’s reaction to new tariff measures has been mixed. They appreciate the support provided but call for more action. Prime Minister Mark Carney’s measures aimed at boosting the domestic steel industry amidst U.S. tariffs provide context to this.

Announcement of New Measures: Carney introduces new measures supportive of the domestic industry. The announcement is a key development.

Details of New Measures: The plan includes tighter quotas and a promise to trim freight rates, offering more specific support.

Reaction from the Industry: Catherine Cobden, CEO of the Canadian Steel Producers Association, has shared her mixed response to these measures.

Industry’s Disappointment: The steel industry’s disappointment is evident regarding Ottawa’s second extension of the remission program, creating challenges for steel importers.

Ending Remarks: Carney assures the industry of an end to the remission program while industry leaders continue to express expectations for additional support.