Sisi Chan

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

The head of Canada’s steel industry association has expressed his ambivalence toward Prime Minister Mark Carney’s new package of measures. Despite showing appreciation for their positive impact against U.S. tariffs, much disappointment remains.

The changes: To improve domestic market viability for steel and lumber producers, Carney has made significant policy adjustments. Stricter quotas on foreign steel inflow into Canada are now in place, along with agreements to cut freight rates for materials crossing provincial borders by rail.

Catherine Cobden, CEO of Canadian Steel Producers Association, has mixed views on these reforms. She agrees they make progress but simultaneously stresses that they would not entirely offset the loss from the U.S. market.

She is disheartened by Ottawa’s decision to extend the remission program for some steel importers. These measures are seen as a detriment to Ottawa’s retaliatory tariffs on U.S. steel, compromising their intended purposes.

Concluding, Cobden appeals to the federal government to end the remission program in January, as promised, further extending the established timeline. Emphasis should be placed on the need to ensure Ottawa fulfills its pledge.