Sisi Chan

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

The Canadian steel industry has shown disappointment due to certain aspects of the newly implemented measures aimed to shield the domestic market from U.S. tariffs.

Prime Minister Mark Carney recently announced support measures for steel and lumber producers in Canada, including stricter quotas on foreign steel imports and lowered freight rates for materials across domestic borders.

Catherine Cobden, CEO of the Canadian Steel Producers Association, has voiced her doubts that the new measures will fully compensate for the U.S. market loss. Despite this, she recognizes this as a positive move for the troubling industry.

Another matter of contention for Cobden is the extension of Ottawa’s remission program for certain steel importers. She believes this undermines the retaliatory tariffs placed on U.S. steel.

In the days to come, the association will closely monitor the federal government’s promise to terminate the remission program in January, which is three months post the previously set deadline.