Sisi Chan

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

The head of Canada’s steel industry association has expressed disappointment at a single aspect of a new package of measures announced by Prime Minister Mark Carney. These are designed to empower domestic market players in light of U.S. tariffs.

Prime Minister Mark Carney announced new measures to aid steel and lumber producers in finding local markets. These comprise of quotas on foreign steel entering Canada and reduced freight rates.

Catherine Cobden, the CEO, shared her take on these initiatives, stating they aren’t robust enough to fully counter the loss of the U.S. market, but agrees they signify a step towards the right path.

A key point of industry discontent is the extension of Canada’s remission program, viewed as weakening Ottawa’s retaliatory tariffs on U.S. steel.

Cobden plans to hold the federal government accountable after Carney’s pledge to terminate the remission program at the end of January — over three months past the initial deadline.