Sisi Chan

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

The Canadian steel industry’s association approves of Prime Minister Mark Carney’s measures to bolster the domestic sector amid U.S. tariffs, yet reveals a certain disappointment.

On the new tariff front: Measures were announced by Carney on Wednesday to aid steel and timber producers in finding new markets within Canada.

Details of the new measures include quotas on overseas steel and a reduction in freight rates.

Critical feedback: The CEO of the Canadian Steel Producers Association suggests that the recently announced measures may not fully offset the loss of the U.S. market but are viewed as a positive move.

There has been disappointment within the steel industry towards Ottawa’s second extension of a program that weakens the retaliatory tariffs against U.S. steel.

In closing: CEO Cobden implores the government to stay true to its promise that the remission program would wrap up by late January— representing a delay from the initial deadline.