Sisi Chan

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

The Canadian steel industry expresses mixed sentiments over the steps taken by Prime Minister Mark Carney to support domestic market amidst U.S tariffs.

Carney’s steps include implementing tighter quotas on foreign steel entering Canada, focusing on enhancing domestic industries like steel and lumber.

Catherine Cobden, CEO of the Canadian Steel Producers Association, comments that these measures are a positive move but fail to completely compensate for the loss of U.S. market presence.

Disappointment looms over Cobden as Ottawa decides to prolong Canada’s remission program for certain steel importers in vital industries, thereby weakening Ottawa’s retaliatory tariffs on U.S. steel.

Cobden anticipates that the federal government will stick to its word of discontinuing the remission program by the end of January, as assured by Carney.