Sisi Chan

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

The head of Canada’s steel industry association has responded to a new set of measures unveiled by Prime Minister Mark Carney. These are aimed at bolstering the domestic market in the face of U.S tariffs.

The PM’s announcement focused on offering much-needed support to the Canadian steel and lumber industries.

Specific measures included limiting foreign steel import and working towards reducing freight rates for Canadian steel and lumber producers.

Catherine Cobden, CEO of the Canadian Steel Producers Association, while acknowledging the benefits of these measures, voiced concerns that they might not fully compensate for the loss of U.S market access.

She expressed disappointment with the government’s decision to extend remission for steel importers, arguing that this move weakens Canada’s retaliatory tariffs against U.S steel.

Cobden has pledged to hold the federal government accountable for its promise to conclude the remission program by January end.