Sisi Chan

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

The Canadian Steel Industry’s Reaction: The initiative by Prime Minister Mark Carney to stimulate the domestic market, in light of U.S. tariffs, has elicited a response from the leader of the Canadian steel producers association. Despite noticeable appreciation, the representative has called attention to an area that he finds disappointing in the plan.

Mark Carney’s new measures: PM Mark Carney has introduced measures envisaged to aid steel and lumber manufacturers in locating new market potentials within Canada. The measures encompass limitations on foreign steel import, and decreased cargo rates for products moved between provinces.

Reaction from Catherine Cobden, CEO Canadian Steel Producers Association: Catherine Cobden, top executive of the Canadian Steel Producers Association, gave her remarks on the initiative. She observed that the measures, though welcome, do not sufficiently indemnify for the lost accessibility to the U.S. market. She was also displeased with the prolongation to Canada’s remission program for certain steel importers, considering the scenario it makes concerning retaliatory tariffs on U.S. steel.

Holding the federal government accountable: Cobden is determined to make the government answerable for ending up the remission program by the close of January, surpassing its original three-months limit.