Sisi Chan

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

The Canadian Prime Minister, Mark Carney, has put forward a group of measures designed to strengthen the Canadian steel and lumber markets in the face of U.S. tariffs. Central to this package are stricter quotas on foreign steel entering Canada and a commitment to lowering freight rates.

Despite these efforts, concerns linger over the potential losses incurred from reduced accessibility to the U.S. market.

Catherine Cobden, CEO of the Canadian Steel Producers Association, expressed disappointment with Ottawa’s decision to extend the remission for steel importers in critical industries. She finds that it undermines the impact of retaliatory tariffs on U.S. steel.

Cobden remains hopeful that the remission program will conclude in January as previously announced. This date is three months beyond the original deadline.