Sisi Chan

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

The new tariff measures implemented by Prime Minister Mark Carney to boost the domestic market in response to U.S. tariffs have been received positively, but with some disappointment. The head of Canada’s steel industry association praised the package but highlighted a certain drawback.

Carney announces new measures to help domestic market

This section reveals that Carney has introduced new measures to support steel and lumber producers in Canada, including tighter regulations on foreign steel entering the country and reduced freight rates for materials crossing provincial borders.

Industry reaction and feedback

CEO Catherine Cobden of Canadian Steel Producers Association gives her opinion on the measures, stating that they won’t entirely compensate for the loss of the U.S. market, but perceives them as a progression in the right direction.

Extension to Canada’s remission program

Some disappointment arises from the government’s decision to extend Canada’s remission program for some steel importers in critical industries, as it weakens Ottawa’s retaliatory tariffs on U.S. steel. Cobden implies accountability from the federal government on Carney’s promise to end the program by January’s end.