Sisi Chan

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

Canada’s steel industry leader, Catherine Cobden, has given a mixed response to a series of measures put forward by Prime Minister Mark Carney. Though elements are praised, she believes more actions are imperative, particularly in response to U.S. tariffs.

Aiming to bolster steel and lumber producers, the new measures are largely geared towards encouraging domestic market expansion. More about the announcement can be obtained here.

Key elements of the package include tighter quotas on imports and adjustments to rail freight rates for transporting materials.

Catherine Cobden, the CEO of the Canadian Steel Producers Association, cited them as beneficial in spite of not replacing the loss from U.S. market access dispute.

However, Cobden expressed frustration over a second extension to Canada’s remission program for steel importers, asserting that this undermines the efficacy of retaliatory tariffs, particularly against U.S. imports.

In closing, Cobden emphasized her commitment to ensure the termination of the remission program at the end of January, significantly beyond the original deadline.

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