Sisi Chan

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

The head of the Canadian steel industry expresses some disappointment regarding Prime Minister Mark Carney’s package of measures designed to boost the domestic market amidst U.S tariffs.

Carney announces fresh measures to help steel and lumber producers find new domestic markets.

New measures include tighter quotas on foreign steel entry in Canada and decreased freight rates for interprovincial exports.

Catherine Cobden, Canadian Steel Producers Association CEO, believes the measures aren’t sufficient to compensate for U.S. market loss but are a step in the right direction.

Cobden remarks on the industry’s dissatisfaction regarding Ottawa’s second extension to the steel import remission program, which weakens retaliatory tariffs on U.S. steel.

Cobden vows to hold the federal government accountable following Carney’s announcement of the remission program’s conclusion at the end of January.