Sisi Chan

Steel Sector Praises New Tariff Measures, but Says More Needs to Be Done

The head of Canada’s steel industry association has expressed some disappointment over one part of the new measures put forth by Prime Minister Mark Carney’s administration against U.S. tariffs.

The measures aim to stimulate the domestic market, especially for steel and lumber producers.

They include tighter quotas on foreign steel and reduced freight rates for goods transported between provinces.

Industry reaction: Catherine Cobden, CEO of the Canadian Steel Producers Association, says the measures won’t fully compensate for the loss of the U.S. market but sees it as a move in the right direction.

Cobden also voices her dissatisfaction with Ottawa’s decision to extend the remission program for certain steel importers which, she argues, undermines the retaliatory tariffs on U.S. steel.

She maintains the government should end the remission program sooner, as initially promised.