Sisi Chan

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

Head of the Canadian steel industry’s opinion on PM’s measures: The head of Canada’s steel industry has voiced minor disappointment over PM Mark Carney’s package of measures, introduced to boost the domestic market amidst U.S. tariffs.

New measures announced by Carney: PM Mark Carney has announced measures that include tighter quotas on foreign steel entering Canada, and a promise to reduce freight rates for materials crossing provincial borders by rail.

Canadian Steel Producers Association CEO’s perspective: Catherine Cobden, the CEO, recognises these measures as a step in the right direction, while also expressing concern that these will not fully compensate for the loss of the U.S. market.

Extension of remission program: She has expressed disappointment at Ottawa’s decision to extend Canada’s remission program, which reduces retaliatory tariffs on U.S. steel.

Remission Program’s deadline extension: Cobden plans to hold the federal government accountable for their promise to end the remission program by the end of January, a timeline that goes beyond the original one.