Sisi Chan

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

Mixed Feelings from Steel Industry Leader:The CEO of Canada’s steel industry association demonstrated mixed responses to the new package announced by Prime Minister Mark Carney, aiming to bolster the domestic market in the wake of U.S. tariffs.

New Government Measures:Prime Minister Carney prompted different measures for the steel and lumber industry, encompassing sterner quotas for foreign steel and reduced freight rates for provincial transfers.

CEO Responds:Catherine Cobden, the head of the Canadian Steel Producers Association, responded to the measures. While recognising their merits, she pointed out that they might not fully buffer against the impact of lost U.S. market access.

Critique of Government Decisions:Cobden criticised the Ottawa government’s decision on prolonging the remission program for selected steel importers, arguing it softens the imposed retaliatory tariffs on U.S. steel.

Future Steps:As the article concludes, Cobden states her intention to hold the federal government accountable for its commitment to conclude the remission program by the end of January, a date later than the original deadline.