Sisi Chan

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

Canada’s steel industry has expressed mixed reactions toward the recent tariff measures introduced by the federal government. Despite appreciating the progress, there’s consensus that more still needs to be done. At the heart of the discourse are the policies implemented by Prime Minister Mark Carney to mitigate tariff impact.

The big picture: The latest measures from PM Carney focuses on the opening of new domestic markets for steel and lumber, restrictions on foreign steel, and reduction of cross-border freight rates. These moves seek to boost domestic steel demand and limit foreign competition.

Catherine Cobden, CEO of the Canadian Steel Producers Association, stands as one of the leading voices in the conversation. While she acknowledges the potential effectiveness of these measures, Cobden expresses disappointment with the continuation of Canada’s remission program that reduces duties on certain steel imports.

The conclusion from the industry’s viewpoint calls for more comprehensive measures. Cobden shares her anticipation for the federal government’s further action to protect the domestic steel industry, marking the end of the remission program as a starting point.