Sisi Chan

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

The Canadian steel industry has mixed feelings: Canada’s Steel Industry Association CEO voices concern over Prime Minister Mark Carney’s strategies to counterbalance U.S. tariffs.

These strategies outlined by PM Carney intend to assist Canadian steel and lumber manufacturers in discovering new domestic markets.

New regulations underway: These consist of rigid rules on importing foreign steel into Canada with commitments to decline freight rates for goods crossing provincial demarcations.

Catherine Cobden, CEO of the Canadian Steel Producers Association, provides perspective: She deems these manoeuvres will not wholly offset the loss of entrance to the U.S. market, but acknowledges this as a prompt in a prolific path.

However, the extension of Canada’s remission program for a portion of steel importers by Ottawa has caused upset within the industry by weakening the effect of retaliatory tariffs on U.S. steel.

Endurance and accountability: Despite this disappointment, Catherine Cobden remains optimistic, asserting her commitment to hold the federal government to their assurance of concluding the remission program in January, a delay of three months from the original timeline.