Sisi Chan

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

Despite applauding some beneficial changes, Canada’s steel industry has expressed disappointment in Prime Minister Mark Carney’s newly implemented measures aimed at cushioning the effects of U.S tariffs.

In a move to bolster these sectors, Prime Minister Carney has announced a few measures which include strict caps on imported steel and a reduction in freight rates for cross-border goods.

Catherine Cobden, CEO of the Canadian Steel Producers Association, while appreciating the new measures, suggests that these may not suffice to counterbalance the loss laid on by the U.S market.

Further disappointment emanates from an additional extension to the remission program, with industry insiders suggesting that it undermines Ottawa’s retaliatory tariffs on U.S steel.

The industry now looks forward to the federal government’s promise to terminate the remission program by the end of January.

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