Sisi Chan

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

The chief executive of the Canadian steel industry expressed discontent with the measures introduced by Prime Minister Mark Carney to revitalize the domestic market amidst U.S. tariffs.

In an attempt to aid steel and lumber producers, Carney rolled out measures aimed at encouraging domestic consumption.

The measures include stricter quotas on imported steel and an assurance of lowering freight rates for goods transported across provinces by rail.

Catherine Cobden, CEO of the Canadian Steel Producers Association, stated that the new measures would not entirely make up for the loss of the American market. Yet, she sees these steps as a move in the right direction for an industry desperate for relief.

Clarification was sought over Ottawa’s decision to extend Canada’s remission program for select steel importers in crucial sectors, a move that has raised eyebrows.

Finally, Cobden is adamant about holding the federal government accountable, following Carney’s promise of wrapping up the remission program by the end of January.