Sisi Chan

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

The new tariff measures introduced by Prime Minister Mark Carney have ignited varied responses from the head of Canada’s steel industry association, especially in relation to U.S. tariffs.

These measures, meticulously crafted by Carney, aim to support steel and lumber producers amidst the turbulent market.

Key measures: The package provided includes tighter quotas and reduced freight rates to aid the struggling industries.

Catherine Cobden, CEO of the Canadian Steel Producers Association, expresses that although the measures fall short of fully compensating for the loss of the U.S. market, they signify progression towards a preferable situation.

Uncertainty prevails as dissatisfaction in the industry grows due to a second extension of Canada’s remission program, which effectively waters down Ottawa’s retaliatory tariffs on U.S. steel.

Cobden asserts a definitive remission program wrap-up timeline is necessary, echoing a promise made by Carney to the steel industry.

• Canada’s Steel Industry Amidst Tariff Changes
• An Insight into the Journey of Steel Producers in Canada
• Canadian Industry Reactions: Steel Producers Leaders Speak Out