Sisi Chan

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

Introduction: The head of Canada’s steel industry shares a disappointment in Prime Minister Mark Carney‘s package of measures aimed to bolster the domestic market against U.S. tariffs.

New Measures Introduced: Fresh measures were introduced by Carney to aid lumber and steel producers. These include tighter quotas on foreign steel and a reduction of freight rates.

CEO’s Reaction: Catherine Cobden, CEO of the Canadian Steel Association, highlighted the potential inadequacy of these measures to compensate for the loss of the U.S. market, while acknowledging them as a positive step.

Issue with Ottawa’s Policy: Cobden expressed disapproval over Ottawa’s second extension to the remission program for some steel importers.

Future Expectations: There is an ongoing commitment from the government, as disclosed by Cobden, in relation to the deadline of the remission program.

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