Sisi Chan

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

The Canadian steel industry voiced support for Prime Minister Mark Carney’s new tariff measures. These steps aim to mitigate the effects of U.S. imposed tariffs on the domestic industry. However, the sector insists on more proactive action to fill the gap left by the U.S. market.

The head of the Canadian steel industry association expressed disappointment with aspects of Carney’s package. These measures currently seek to strengthen the domestic market amidst U.S. tariffs.

Carney introduced new policies aimed at aiding steel and lumber producers. Recognized actions involve restrictions on the importation of foreign steel and a commitment to lessen freight rates for materials traversing provincial lines by rail.

Catherine Cobden, CEO of the Canadian Steel Producers Association, points out that these measures may be insufficient in fully compensating for the U.S. market loss. Yet, she sees them as a hopeful beginning towards supplying necessary industry relief.

Cobden expressed industry displeasure at Ottawa’s declaration of a second extension for some steel importers’ remission program. This step, she argues, dilutes Ottawa’s counter-tariffs on U.S. steel.

Concluding her standpoint on the subject, Cobden vows to maintain government accountability, particularly on its pledge. Carney had stated the remission program would end by January.