Sisi Chan

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

Canadian Steel Industry head expresses mixed reactions to Prime Minister Mark Carney’s new tariffs aimed at U.S. imports. While appreciating the move, concerns remain unaddressed.

The significant instructions: Carney’s new measures deliver aid to local producers, especially in steel and lumber. Import restrictions on foreign steel have been ramped up alongside a reduction in interprovincial freight rates.

Catherine Cobden, CEO of the Canadian Steel Producers Association, acknowledges the step but posits that the adjustments are inadequate to offset the losses incurred from decreased U.S market accessibility.

The key concern: Cobden questions Ottawa’s decision to prolong the remission program for certain steel importers in essential industries, inadvertently undermining the counteractive tariffs on U.S. steel.

The Association’s CEO pledges to ensure the federal government abides by its commitment to terminate the remission program by January end – a postponement of more than three months from its original deadline.