The Financial Post reports in its Saturday edition that a group of Canadian steel producers said the government's plan to restrict foreign steel imports is not strong enough and warned that the industry is set to shed thousands more jobs because of U.S. tariffs. A Bloomberg dispatch to the Post says that Ottawa introduced a new tariff-rate quota to limit imports of steel and said it may adjust tariffs on U.S. steel products on July 21, depending on the status of trade talks with the Trump administration. The U.S. has increased tariffs on foreign steel and aluminum to 50 per cent. So far, Canada has decided not to match that, keeping its retaliatory levies at 25 per cent. Catherine Cobden at the Canadian Steel Producers Association said in a statement, "We are concerned that the immediate measures fail to address the crisis we are in." The tariff-rate quota applies a 50-per-cent surtax on steel imports from countries without a free-trade agreement with Canada that exceed last year's levels of 2.6 million metric tonnes. The tariff-rate quota "will do little to support our industry," said the association, whose members include Algoma and Arcelormittal. The government insists its move was only the first step.