Sisi Chan

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

Introduction: The disappointment is palpable, yet there is a grudging acceptance of some benefits in the changes imposed by Prime Minister Mark Carney. Notably, these new measures also take into account U.S. tariffs.

Announcement of New Measures: Mark Carney introduced measures specifically designed to assist Canada’s steel and lumber providers.

Outline of the New Measures: A noticeable tightening in quotas along with a potential lowering of freight rates for goods transported between provinces constitute the main aspects of these changes.

CEO’s Reaction: Catherine Cobden, the CEO of the Canadian Steel Producers Association, shares her thoughts on the changes and ponders on their impact regarding the industry’s current access to the U.S. market.

Remission Extension: There is a sense of disenchantment within the industry upon hearing about Ottawa’s extension of remission for certain steel importers, which, they reasons, weakens the impact of Canada’s retaliatory tariffs against U.S. imported steel.

Government Accountability: The federal government maintains a firm stand on the discontinuation of the remission program, which is projected to conclude by January’s end, abiding by the deadline prescribed by Carney.