Sisi Chan

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

The head of Canada’s steel industry association states there was one disappointment in Prime Minister Mark Carney‘s tariff measures package to boost the domestic market against U.S. tariffs.

Carney announced fresh measures Wednesday to assist steel and lumber producers to find new markets for their merchandise within Canada.

These measures include tighter quotas on foreign steel entering Canada and a commitment to reduce freight rates for materials crossing provincial borders by rail.

Catherine Cobden, the CEO of Canadian Steel Producers Association, claims that while these measures might not fully compensate for the loss of access to the U.S. market, they present a step in the right direction for an industry desperately needing relief.

However, she voices industry’s disappointment with Ottawa’s announcement of a second extension to Canada’s remission program for some steel importers in essential industries, undermining Ottawa’s retaliatory tariffs on U.S. steel.

Cobden reinforces she will hold the federal government accountable after Carney assured the remission program would conclude by the end of January — over three months post the original deadline.