Sisi Chan

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

The Canadian Steel Producers Association praised Prime Minister Mark Carney’s package of measures, aimed to enhance domestic market in the face of U.S. tariffs, however, they expressed their disappointment for one aspect.

The Prime Minister announced new measures to help steel and lumber producers find fresh domestic markets. This includes tighter quotas on foreign steel and reduced rail freight rates for materials.

Catherine Cobden, CEO of the Canadian Steel Producers Association, opined that despite these measures, the loss of access to the U.S. market won’t be fully compensated. Yet, she sees these as a step towards relief for the industry.

The industry relayed their disappointment regarding Ottawa’s second extension of the remission program that they believe weakens Ottawa’s retaliatory tariffs on U.S. steel.

Stressing on the promised deadline for wrapping up the remission program by the end of January, Cobden said the industry will hold the federal government to its word.