Sisi Chan

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

The steel industry reaction: Prime Minister Mark Carney’s measures to uplift domestic steel sector in response to U.S tariffs have received mixed reactions. The industry applauds the initiative but believes more can be done.

Carney’s new measures: Tighter quotas on foreign steel entering Canada and lowered freight rates for materials transported across provincial borders have been introduced.

Industry concerns: CEO Catherine Cobden warned that these measures might not fully compensate for the loss of access to the U.S. market.

Continued dissatisfaction: The steel industry has voiced concerns about the impact of extending Canada’s remission program for certain steel importers. It argues this may not effectively compensate for the U.S. market loss.

Looking forward: Cobden expects crucial decisions from the federal government by the end of January that will shape the industry’s future.