Sisi Chan

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

Context: The head of Canada’s steel industry association expressed disappointment due to Prime Minister Mark Carney’s measures aimed at bolstering the domestic market in the face of U.S. tariffs.

New measures to assist steel and lumber producers have been announced by PM Carney.

Notable among these measures are stricter quotas on foreign steel entering Canada, and an initial proposal to reduce freight rates for materials crossing provincial borders by rail.

Catherine Cobden, CEO of Canadian Steel Producers Association, believes the current measures will not fully offset the loss of access to the U.S. market, but acknowledges that they are a step in the right direction.

The industry has expressed discontent with the extension of Canada’s remission program for some steel importers. This move has weakened Ottawa’s retaliatory tariffs on U.S. steel.

Despite this, Cobden is committed to holding the federal government accountable, especially pertaining to its promise to end the remission program at the close of January.