Sisi Chan

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

The head of Canada’s steel industry has expressed mild disappointment in Prime Minister Mark Carney’s measures, which have been beneficial for the domestic market amidst the recent U.S. tariffs.

New measures taken by PM Mark Carney aim to support steel and lumber producers in Canada by imposing tighter quotas on foreign steel entries into the country. Additionally, the PM has committed to reducing freight rates for materials crossing provincial borders via rail.

CEO of the Canadian Steel Producers Association, Catherine Cobden, shared her concerns, suggesting that these measures likely will not suffice to compensate for the lost access to the U.S. market. Still, she remains hopeful that the sector will experience some needed relief.

A wave of disappointment washed over the industry following Ottawa’s announcement of an extension to Canada’s remission program for some steel importers. This program is thought to undermine Ottawa’s retaliatory tariffs on U.S. steel.

Cobden made it clear she will hold the government accountable after Carney’s assurance that the remission program, despite its extension of over three months past the initial deadline, will conclude by the end of January.