Sisi Chan

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

The head of Canada’s steel industry association conveyed an initial appreciation for the new tariff measures. He noted that the package was predominantly beneficial with one disappointing factor.

Prime Minister Mark Carney introduced the new measures, aiming to bring respite for steel and lumber producers.

The challenge: CEO of Canadian Steel Producers Association, Catherine Cobden, suggests that the recent measures may not entirely offset the loss provoked by the U.S. tariffs. Despite this, she recognizes it moves the industry in the right direction.

The extension of Canada’s remission program for certain steel importers causes some disappointment within the industry, impacting retaliatory tariffs.

Carney has promised to wrap up the remission program by the end of January. The industry is looking forward to seeing the government live up to this commitment.