Sisi Chan

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

Canada’s steel industry association has responded positively yet cautiously to Prime Minister Mark Carney’s new measures. These decisive steps aim to enhance the domestic market as it reels from U.S. tariffs.

The newly announced measures from Carney encompass tighter restrictions on foreign steel and a favourable reduction in the freight rate for materials crossing provincial boundaries by rail.

Catherine Cobden, CEO of the Canadian Steel Producers Association, has voiced concerns. While she acknowledges the partial relief brought by these measures, she stipulates that it is insufficient due to the lost access to the substantial U.S. market.

The industry has further expressed disappointment at Ottawa’s recent prospect of a second extension to the country’s remission program. They argue that this decision undermines Ottawa’s retaliatory tariffs on U.S. steel.

In conclusion, Cobden is firmly intent on maintaining pressure on the federal government to fulfill its promise. The primary objective is to terminate the remission program by the given deadline, as per the commitment of the federal government.