Sisi Chan

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

Canada’s steel industry: Prime Minister Mark Carney’s newly announced measures to stimulate the domestic market have been met with ambivalence from industry leaders. No lists, tables, or key data points are included in this observation.

The Prime Minister’s announcement featured measures such as the introduction of more stringent quotas on foreign steel entering Canada, and plans to cut freight rates for materials crossing provincial borders by rail.

Catherine Cobden’s response: CEO of the Canadian Steel Producers Association, Catherine Cobden, reveals that while these measures are a step in the right direction, they won’t yet compensate fully for the loss suffered due to restricted access to the U.S. market.

The extension of Canada’s remission program for certain steel importers in critical industries for a second time has drawn criticism from the industry. This move is viewed as undermining Ottawa’s retaliatory tariffs on U.S. steel.

Cobden asserts her intention to hold the government accountable for its promise to wind up the remission program by the end of January, a deadline already postponed by three months.