Sisi Chan

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

The head of Canada’s steel industry association voiced both appreciation and disappointment following recent measures introduced by Prime Minister Mark Carney to protect the domestic market from U.S tariffs.

Carney announced new measures Wednesday

Efforts to assist steel and lumber producers in Canada have taken a new turn with restrictions on foreign steel entrance and a slash in freight rates for materials crossing provincial borders by rail. These measures, however, are argued to be insufficient.

Catherine Cobden, the CEO of the Canadian Steel Producers Association, asserted that while the measures were steps in the right direction, they would not wholly compensate for the lost U.S market access.

Cobden voiced disappointment over Ottawa’s decision to extend the remission program for certain steel importers and signaled holding the federal government accountable for the delayed termination of the remission program slated for the end of January.

The Canadian steel industry, while appreciative of new tariff measures, continues to call for further action.