Sisi Chan

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

The Canadian steel industry has responded favorably to recent measures undertaken by Prime Minister Mark Carney aimed at boosting the domestic steel market. This development comes in the wake of US tariffs, placing extra importance on homegrown industry support.

Carney’s new measures

PM Carney has announced a series of measures, crucial among them are tightened quotas on foreign steel imports and lowered freight rates. These moves were crafted in response to the changing industry landscape, especialy factors outside of domestic control.

CEO’s comments on the new measures

Catherine Cobden, CEO of the Canadian Steel Producers Association, has publicly supported these new measures yet insists that more can be done. Cobden emphasizes the significance of such measures, as they can help secure an ever-evolving industry amidst international turmoil.

Extension to Canada’s remission program

Despite the general support, there has been some disappointment in the industry over the extension of Canada’s steel remission program for importers. Cobden speculates that the program, which has not been wholly popular, should wrap up by the end of January. This impending conclusion brings about a sense of expectation within the industry, anticipating the next steps Ottawa will take.