Sisi Chan

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

The iron’s still hot: The head of Canada’s steel industry association expressed his disappointment with the tariff measures introduced by Prime Minister Mark Carney, citing a significant issue within them.

Aiming to support steel and lumber producers, Carney revealed a series of new measures. These policies are catching the attention of industry leaders and participants alike.

These measures involve specifics such as quota limitations on foreign steel and changes in freight rates for materials, prompting questions on their potential impact.

Not a total fix: Catherine Cobden, CEO of the Canadian Steel Producers Association, does not believe these measures provide complete reparation for the loss from the U.S. market, but she acknowledges them as a move in the right direction.

Cobden expressed her dissatisfaction with Ottawa’s second extension to Canada’s remission program. In her viewpoint, this extension dilutes the retaliatory tariffs on U.S. steel.

The CEO hopes for the federal government to be true to its word after Carney pledged the remission program would wrap up by the end of January. However, only time will tell if these measures will be effective and if more indeed needs to be done.