Sisi Chan

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

Canada’s steel industry, led by an unnamed chief, finds new measures from Prime Minister Mark Carney encouraging but also wants more from the administrative side to overcome the effects of the U.S. tariffs.

The significant development: PM Carney recently hinted at new measures supporting steel and lumber producers to create fresh markets domestically, with focused policies like stricter quotas and decreased freight rates for intra-provincial material transportation.

Catherine Cobden, the Canadian Steel Producers Association’s CEO, acknowledges these steps but warns that they might not be enough to offset the damage from lost U.S. market access. She, however, appreciates the quick action taken.

In her words: Cobden expresses displeasure over the extension of Canada’s remission program for certain steel importers in critical sectors, undermining Ottawa’s retaliatory tariffs on U.S. steel goods.

Concluding her views, Cobden urges the federal government to keep its word, with Carney’s assurance for the remission program concluding by the end of January.