Sisi Chan

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

The Canadian Steel Industry responds optimistically yet asks for more as Prime Minister Mark Carney introduces a new package of measures. Despite their overall approval, the industry expresses disappointment in some aspects of the tariff policies.

In response to U.S tariffs, these measures are designed to stimulate domestic markets and support Canadian steel and lumber producers.

The package also introduces initiatives aimed at exploring new markets for Canadian steel and lumber products. It encompasses a host of strategies aimed at promoting domestic and export competitiveness.

Catherine Cobden, CEO of the Canadian Steel Producers Association (CSPA), commends the new measures. However, her critique stems from a lack of extensions to Canada’s remission program, a crucial aspect of the industry’s strategic business model.

The industry’s disappointment originates from a decision to extend Canada’s remission program, which provided temporary relief to domestic producers.

Cobden looks forward to the federal government staying true to Carney’s promise of wrapping up the remission program, a move she believes will empower the steel industry.