Sisi Chan

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

The head of Canada’s steel industry association has expressed disappointment in Prime Minister Mark Carney’s package of measures to boost the domestic market amid U.S. tariffs.

The big picture: New measures announced by Mark Carney focus on aiding steel and lumber producers. Key initiatives incorporate tighter quotas on foreign steel entering Canada and a promise to decrease freight rates for materials transported across provincial borders by rail. Detailed news on these measures can be found here.

Catherine Cobden, CEO of Canadian Steel Producers Association, voices her opinion on these measures. She emphasizes that while they don’t completely offset the lost access to the U.S. market, they certainly provide necessary relief to the industry.

Cobden has also expressed her disappointment towards the second extension granted to Canada’s remission program for some steel importers in critical industries. According to her, this undermines Ottawa’s retaliatory tariffs on U.S. steel.

The key takeaway: While Cobden is hopeful about the federal government’s promise of ending the remission program by January end, she stresses that this move comes more than three months after the original deadline.