Sisi Chan

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

The steel sector has responded to the new tariff measures proposed by Prime Minister Mark Carney, demonstrating both appreciation and constructive critique. Despite incentives in the new policies, U.S tariffs still pose a significant challenge.

The Canadian government, led by PM Carney, unleashed new measures aimed at bolstering the steel and lumber sector. The government’s strategy includes imposing tighter quotas on foreign steel and facilitating reduced freight rates for materials shipping across provinces.

Catherine Cobden, CEO of the Canadian Steel Producers Association, offered her perspective on the new measures. Cobden mentioned the undeniable benefits of the new policies, but voiced concern over the loss of access to the U.S market. She also expressed dissatisfaction with the extension of Canada’s remission program for steel importers, suggesting more needs to be done for optimal industry support.