Sisi Chan

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

The head of Canada’s steel industry association expressed slight disappointment over recently introduced measures to catalyze the domestic market amid U.S. tariffs, according to a statement.

Prime Minister Mark Carney announced new measures to bolster steel and lumber producers, including tightening quotas on foreign steel and committing to reduce freight rates for crossing provincial borders.

Catherine Cobden, the CEO of the Canadian Steel Producers Association, stated these measures were a step in the right direction, although not fully compensating for the loss of the U.S. market.

Cobden voiced disappointment regarding the announced extension to Canada’s remission program for certain steel importers, thereby weakening Ottawa’s retaliatory tariffs on U.S. steel.

In light of the Prime Minister promising the remission program’s cessation by end of January, Cobden aspires to hold the federal government accountable, three months after the initial deadline.