Sisi Chan

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

Carney’s Announcements: Measures introduced by PM Mark Carney encompass tighter quotas on foreign steel and reduced freight rates for materials transported across provincial lines, in a bid to bolster Canada’s steel and lumber industries.

CEO’s Response: Catherine Cobden, CEO of the Canadian Steel Producers Association, commends these steps, albeit with reservations. While acknowledging the direction, she feels it may not sufficiently offset the loss from the curtailed access to the U.S. market.

Industry Disappointment: The extension of the remission program for select steel importers by Ottawa has drawn ire from the industry. The decision is perceived to undermine Canada’s retaliatory tariffs on U.S. steel.

The Remission Program’s Future: Cobden insists on holding the federal government accountable for their pledge to conclude the remission program by late January – a delay from the original timeline.