Sisi Chan

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

In light of fresh regulations, Canada’s steel industry presents a balanced reaction to efforts by Prime Minister Mark Carney aimed at shielding domestic steel businesses against U.S. tariffs. Catherine Cobden, helming the Canadian Steel Producers Association, positions herself as the industry’s spokesperson.

In an attempt to bolster domestic markets and counteract international competition, Carney announced new measures last Wednesday. These measures involved instating quotas and minimizing freight tariffs.

Cobden’s stance: While valuing the fresh steps, she underlines that they fall short of offsetting the blow dealt by the lack of access to the lucrative US market.

Ottawa’s prolongation of Canada’s remission program for a section of steel importers tempers the retaliatory tariffs levied on U.S. steel, a move drawing Cobden’s censure.

The Expectation: Cobden anticipates the federal government to wind up the remission scheme by January end, relying on Prime Minister Carney’s promises.