Sisi Chan

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

Introduction: The head of Canada’s steel industry, Prime Minister Mark Carney, has offered a mixed response to a new package of measures aimed at boosting the local market amidst U.S. tariffs.

New Measures Announcement: The recently announced measures target aiding steel and lumber producers in Canada. These include implementing tighter quotas on the entry of foreign steel into Canada and cutting down freight rates for materials transferred across provincial borders via rail.

Association CEO’s View: Catherine Cobden, the CEO of the Canadian Steel Producers Association, has expressed thoughts on the potential of these measures. According to Cobden, although these measures may not fully offset the loss inflicted on the local market from restricted U.S. access, they certainly mark a positive move.

Industry Disappointment and Future Expectations: Cobden has displayed disappointment over Canada’s remission program receiving a second extension. She also spoke about Carney’s assurance of the program’s termination by the end of January, pointing towards an optimistic future for the industry.