Sisi Chan

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

The leader of Canada’s steel industry has shared views on the newly introduced package of measures aimed to boost the domestic market amidst US tariffs. The package sparked some disappointment, however, the specifics of the concern have been left unspoken.

Carney announced new measures Wednesday

On Wednesday, new measures were detailed to assist Canadian steel and lumber producers in finding new markets within the country. This encompassed new regulations on steel imports and a pledge to lower freight rates.

Catherine Cobden, the head of the Canadian Steel Producers Association, has forecasted that these measures may not completely offset the cost of the inaccessible US market. Nevertheless, she acknowledges and puts a positive spin on the attempt to alleviate industry stress.

Cobden expresses dissatisfaction over a second extension to Canada’s remission program which, she believes, may dwindle Ottawa’s retaliatory tariffs on U.S. steel. Such concerns sit amid the federal government’s assurance that the remission program will conclude in January, a decision Cobden intends to observe closely.