Sisi Chan

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

The CEO of Canada’s steel industry association expresses mixed sentiments about new measures introduced by Prime Minister Mark Carney to revitalize the domestic market. While some aspects are praised, a key part of the measures disappoints.

The measures, designed to support steel and lumber producers in Canada, feature stricter tariffs on foreign steel and lower freight rates for materials transported by rail.

Catherine Cobden, CEO of the Canadian Steel Producers Association, maintains these measures can’t fully make up for the loss of access to the U.S. market, but they signal a welcome change for a struggling industry.

However, the industry disagrees with Ottawa’s move to extend a metal import remission program, which lessens retaliatory tariffs on U.S. steel. It’s seen as a weakening of Canada’s countermeasures.

Strongly, Cobden promises to hold the government accountable for its commitment to terminate the remission program by the end of January, three months later than originally planned.