Sisi Chan

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

Canada’s steel industry has responded to Prime Minister Mark Carney’s package aimed at aiding the domestic market amidst U.S. tariffs. While certain optimism lingers, a sense of dissatisfaction may also be noted.

The state of play: Measures to bolster steel and lumber producers’ domestic sales, including tighter import quotas and reduced rail freight rates, have been announced. These are part of the government’s endeavour to lend support amid foreign pressures.

Catherine Cobden, CEO of Canadian Steel Producers Association, voiced her views on these new measures. In her words: although these efforts may not adequately counterbalance lost access to U.S. markets, they symbolize steps in the right direction.

However, Cobden expressed disappointment regarding Ottawa’s second extension of Canada’s remission program for steel importers. She argued that this move weakens Ottawa’s implementation of tariffs on U.S. steel.

Cobden pledged to hold the government accountable to terminate the remission program by the end of January – a promise made by Carney. She insists on this action to strength domestic steel market and counterbalance U.S. tariffs impacts.