Sisi Chan

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

The head of Canada’s steel industry association expressed both praise and disappointment about new measures introduced by Prime Minister Mark Carney for boosting the domestic market amid U.S. tariffs.

New Measures: Prime Minister Carney announced new measures to help domestic steel and lumber manufacturers. These include tighter quotas on import steel and reduced freight rates for materials crossing provincial lines.

Industry Reaction: Catherine Cobden, CEO of the Canadian Steel Producers Association, comments on the new measures, expressing concern that they may not completely compensate for the U.S. Market loss but acknowledging them as a step in the right direction.

Cobden also reacts to Ottawa’s decision to extend the remission program for some critical industry steel importers, which she argues dilutes Ottawa’s retaliatory tariffs on U.S. steel.

Cobden notes the promise from the federal government to conclude the remission program by the end of January, three months after the original deadline.