Sisi Chan

Steel Sector Praises New Tariff Measures, But Says More Needs to Be Done

The lead figure of Canada’s steel industry association acknowledges Prime Minister Mark Carney’s strategies to lift the domestic market amidst U.S. tariffs, but contends more action is needed. New measures unveiled by Carney aim to aid steel and lumber producers by securing within-Canada markets. These include imposing conditions on the import of foreign steel and trimming freight fees.

Catherine Cobden, CEO of Canadian Steel Producers Association, states the measures fall short to balance the loss wrought by U.S. tariffs. Nonetheless, she sees them as a critical move towards securing the industry’s interests. On the flip side, the extension of the remission program for certain steel importers by Ottawa is a letdown for the industry. It dilutes the effect of retaliatory tariffs on U.S. steel.

Emphasizing accountability, Cobden seeks the assurance of the federal government to terminate the remission program by the close of January as pledged by Carney. Her goal is to bolster the domestic steel industry by ensuring policy actions are consistently followed through.