Sisi Chan

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

The head of Canada’s steel industry praised recent tariff measures set by Prime Minister Mark Carney stating overall approval, yet disappointment still lingers.

Carney’s new plan of action includes stricter quotas on foreign steel imports and decreased freight rates for materials transferred provincially, aiming to boost the domestic steel and lumber market.

Potential concern:

Catherine Cobden, CEO of the Canadian Steel Producers Association, views these regulatory measures as a partial solution. Her main concern is coping with the loss of the U.S market and the urgent need for additional relief.

Of additional concern, Cobden voiced disappointment with the remission liberal measures extension for specific steel importers by Ottawa. This, Cobden argues, weakens Ottawa’s retaliatory tariffs on U.S. steel.

Action steps:

She vows to hold the federal government accountable, referring to Carney’s assurance that the remission program would end come January’s conclusion.