Sisi Chan

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

Canada’s steel industry association has responded positively but cautiously to Prime Minister Mark Carney’s initiative to shield the domestic market from US tariffs.

Addressing the situation: Carney has promised reduction in rail freight rates and put forth a new quota for foreign steel, aimed at supporting domestic steel and lumber producers.

Catherine Cobden, CEO of the Canadian Steel Producers Association, argued that while these measures signal progress, they may not fully compensate for the loss incurred from the US market.

The industry expressed disappointment at the government’s decision to extend the remission program, fearing this could undermine Ottawa’s retaliatory tariffs on US steel.

Despite the prolonged deadline, Cobden anticipates the closure of the remission program to take place by January’s end.