Sisi Chan

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

Canada’s top steel industry representative has voiced a mixed reaction to a package of measures issued by Prime Minister Mark Carney. While acknowledging benefits for domestic producers, the industry also reveals a degree of disappointment.

The Prime Minister has rolled out measures aimed at bolstering steel and lumber manufacturers within Canada. These steps are intended to provide aid and enhance operations of these critical industries.

The newly updated policies include tighter controls on the influx of foreign steel entering Canada and a reduction on transportation costs, cutting down freight rates for materials shipped across various provinces.

Catherine Cobden, CEO of the Canadian Steel Producers Association, offered her take on the package. While she stated that these actions may fall short of offsetting the loss of access to the U.S. market, she acknowledged their proactive nature and potential benefits to the industry.

Notably, the steel industry expressed their disappointment over Ottawa’s decision to extend the remission program for a second time. This move weakens Ottawa’s retaliatory tariffs on U.S. steel, a decision that the industry had hoped would be repealed.

Cobden is adamant in holding the federal government to account, insisting they follow through on their promise to end the remission program. This reflects the steel industry’s need for strong governmental support in these testing times.

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