Sisi Chan

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

The head of Canada’s steel industry association has given a mixed reaction to the recent tariff measures initiated by Prime Minister Mark Carney. These were launched to invigorate the domestic market amidst U.S tariffs.

In the attempt to back steel and lumber manufacturers within Canada, Carney announced the implementation of more stringent quotas on foreign steel. He also introduced a decree to contract freight rates for materials transported across provincial borders.

Catherine Cobden, CEO of the Canadian Steel Producers Association, has stated that although these measures are heading in the right direction, they may not fully counterbalance the disadvantages of the cut-off from the U.S. market.

Cobden has also shown discontent over Ottawa’s resolution to protract the remission program for selective steel importers. This decision, according to her, undermines Ottawa’s retaliatory tariffs on U.S. steel.

Fieldsing future plans, she confirms holding the federal government accountable for ending the remission program by the end of January, which is a significant delay from the initial deadline.