Sisi Chan

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

Canada’s steel industry voiced a mix of appreciation and dissatisfaction over the new tariff measures introduced by Prime Minister Mark Carney. The industry’s chief concern is the second extension of the remission program that undermines Ottawa’s retaliatory tariffs on U.S. steel.

Prime Minister Carney’s announcement on Wednesday detailed new strategies to support steel and lumber producers in establishing new domestic markets for their goods. His protective measures include imposing tighter quotas on foreign steel entering Canada and reducing freight rates for materials transported across the country.

Catherine Cobden, CEO of the Canadian Steel Producers Association, lauds these measures but insists they are insufficient in offsetting the lost access to the U.S. market.

Cobden not only expresses her disappointment over the remission program’s second extension but also commits to holding the federal government accountable. She insists on the termination of the remission program by the end of January, more than three months beyond its initial deadline.