Sisi Chan

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

Introduction: The head of Canada’s steel industry has given a mixed response to new measures brought in by Prime Minister Mark Carney aimed at bolstering the domestic market in the face of U.S. tariffs.

Carney’s New Measures Announced: On Wednesday, Prime Minister Mark Carney announced new measures designed to help steel and lumber producers access fresh domestic markets.

Measures’ Content: The newly introduced measures include tighter quotas on foreign steel entering Canada and a proposal aimed at reducing freight rates for materials crossing provincial borders via rail.

Cobden’s Opinion: Despite these new initiatives, Canadian Steel Producers Association CEO Catherine Cobden feels the measures may not fully rectify losses caused by restricted U.S. market access, although she believes they signify a step in the right direction.

Disappointment about Remission Program: Cobden expressed disappointment over Ottawa’s decision to further extend the remission program for certain steel importers.

Government Accountability: Following Carney’s confirmation that the remission program would end in January, three months later than the original deadline, Cobden stated her intention to hold the federal government accountable.