Sisi Chan

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

According to the Head of Canada’s steel industry association, the new measures brought forward by Prime Minister Mark Carney are a step in the right direction but lack key aspects necessary for the industry’s survival.

These measures include tighter quotas on foreign steel entering Canada and promises to reduce freight rates for materials crossing provincial borders by rail. However, industry leaders remain skeptical.

Catherine Cobden, CEO of Canadian Steel Producers Association, opines that the measures may not fully compensate for the loss of access to the U.S. market. Nonetheless, she views them as a positive development.

Disappointment has been expressed regarding Ottawa’s second extension to Canada’s remission program, accused of diluting the impact of Ottawa’s retaliatory tariffs on U.S. steel.

Cobden intends to hold the federal government accountable for its promises, specifically referencing Prime Minister Carney’s promise to conclude the remission program by the end of January.