Sisi Chan

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

Canada’s steel industry has expressed appreciation for the new tariff measures introduced by Prime Minister Mark Carney, in an attempt to defend domestic markets in light of U.S. tariffs. More on these measures

These measures feature tougher quotas on foreign steel imports into Canada. A plan to curtail freight rates for materials transported across provincial borders by rail is also in place.

Catherine Cobden, the CEO of the Canadian Steel Producers Association, notes that while it doesn’t make up for the lost U.S. market entirely, it provides much-needed relief for the beleaguered industry.

The industry voiced its dissatisfaction regarding the prolonging of Canada’s remission program for certain steel importers. Cobden argues this weakens the retaliatory tariffs on U.S. steel.

Cobden plans to keep the government accountable for Carney’s commitment to wrap up the remission program by end of January.