Sisi Chan

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

The head of the Canadian steel industry association commends new tariff measures deployed by Canadian Prime Minister Mark Carney, aiming to fortify the domestic market against U.S tariffs, though he insists further action is required.

Noteworthy measures: The new measures, designed to support Canadian steel and lumber industries, include stringent quotas on foreign steel imports and decreased freight rates for interprovincial materials transport. Find more about the measures here.

CEO of the Canadian Steel Producers Association, Catherine Cobden, expresses mixed feelings about these measures. She questions their effectiveness in offsetting the losses resulting from U.S market access restrictions, yet acknowledges that they are a progressive step.

There’s industry disappointment over Ottawa’s decision to prolong Canada’s steel import remission program. This action is perceived as undermining Ottawa’s retaliatory tariffs on U.S. steel, thereby diluting their effect.

As the measures are set to expire by end of January, Cobden is holding the federal government accountable, expecting them to fulfill their promises to the industry.

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