Sisi Chan

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

Introduction: The head of Canada’s steel industry association has expressed mixed reactions to new measures by Prime Minister Mark Carney aimed at assisting the domestic market. While these steps are seen as helpful, they are not considered fully effective against the impact of U.S. tariffs.

Prime Minister’s Announcement: Carney has introduced strategies to help steel and lumber producers in Canada find new markets domestically. His plans feature stricter quotas for foreign steel imports and decreased freight costs on intra-provincial rail.

Industry Reaction: Catherine Cobden, the head of the Canadian Steel Producers Association, recognizes the benefits of these measures, but fears that they may not be enough to offset the consequences of lost access to the U.S. market.

Disappointment on Extension to Canada’s Remission Program: The steel industry has voiced dissatisfaction over another extension to the remission program for steel importers in critical sectors.

Holding the Federal Government Accountable: In response, Cobden intends to hold the federal government, including Carney, accountable for the promise to end the remission program by January-end, which would create more favorable conditions for Canadian steel producers.

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