Sisi Chan

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

Canada’s steel industry association reacts to Prime Minister Mark Carney’s package designed to protect the domestic market against U.S tariffs. However, there’s disappointment associated with one aspect of the package.

New measures have been introduced by Prime Minister Carney. These aim to strengthen steel and lumber producers’ local markets by restricting foreign steel import quotas and promising to lower rail freight rates for materials crossing provincial borders.

From the industry’s point of view, Catherine Cobden, CEO of The Canadian Steel Producers Association, voices her perspective. She acknowledges these measures won’t wholly reverse the loss of U.S market access, but they are indeed a move in the right direction.

Yet, Cobden criticizes the decision to extend Canada’s remission program for certain steel importers—something she feels weakens Ottawa’s retaliatory tariffs on U.S. steel.

Facing the government, Cobden stresses the importance of adhering to their promise to terminate the remission program. She intends to hold them accountable to end it by the end of January, which extends past the initial deadline by over three months.