Sisi Chan

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

As per the opinion of the head of Canada’s steel industry association, new measures introduced by Prime Minister Mark Carney have sparked a mixed reaction. The association acknowledges relief but expresses its disappointment over certain elements. U.S. tariffs continue to pose a concern for the industry.

Carney announced new measures Wednesday, striving to aid the nation’s steel and lumber producers. Key implementations included tightened quotas and reduced freight rates to elevate domestic market conditions.

Canadian Steel Producers Association CEO Catherine Cobden opened up about the industry’s perspective, conceding that the measures provide some relief, though they may not suffice in the long run.

She highlighted the industry’s disappointment regarding the second extension of Canada’s remission program and the diluted retaliatory tariffs on U.S. steel. This poses a significant challenge for the sector moving forward.

Wrapping up her viewpoint, Cobden reinforced her commitment to hold the federal government accountable on wrapping up the remission program efficiently and adhered to the delay in executing the original deadline.