Sisi Chan

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

Canada’s steel industry association’s head perceives new measures introduced by Prime Minister Mark Carney as a step towards boosting the domestic market, despite discontentment brewing amidst U.S tariffs.

PM Carney’s defensive measure: Carney laid out strategies to fortify steel and lumber producers. Notably, tight quotas are to be imposed on foreign steel import, along with reduction in freight rates for inter-province shipping.

Catherine Cobden, CEO of the Canadian Steel Producers Association, acknowledges the measures as favorable. However, she emphasizes that they do not fully counteract the impact of lost U.S. market access.

The extension of Ottawa’s remission program garnered disappointment from Cobden due to its weakening effect on retaliatory tariffs on U.S. steel. She holds the federal government accountable for fulfilling Carney’s promise to conclude the remission program by January’s end.