Sisi Chan

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

The Canadian Steel Industry’s Response: CEO of the Canadian Steel Producers Association, Catherine Cobden responds to the newly announced tariff strategies by Prime Minister Mark Carney aimed at aiding the domestic markets in response to U.S. tariffs.

The Measures: Detailed measures include tighter quotas on foreign steel entering Canada, and a pledge to decrease freight rates for materials crossing provincial borders by rail as announced by Prime Minister Mark Carney

Cobden’s Thoughts: Although appreciative of the measures, Cobden points out that loss of access to the U.S. market impacts may still not be fully compensated.

Extension to Remission Program: The federal government’s second extension of the remission program, benefiting steel importers from critical industries, minimizes the potency of Canada’s tariffs on U.S. steel, says a disappointed Cobden.

End of Remission Program: Cobden hopes that the federal government shall terminate the remission program by end of January, three months later than initially expected.