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

The head of Canada’s steel industry association voices a single disappointment in Prime Minister Mark Carney’s new package of measures despite its overall aid to the domestic market amidst U.S. tariffs.

Moving forward, the Prime Minister’s new measures to assist steel and lumber producers are laid out. They include tighter quotas on foreign-made steel and a promise to cut down shipping rates across provinces.

An industry perspective: Catherine Cobden, CEO of the Canadian Steel Producers Association, sheds light on the new measures. Her observation points out that they won’t fully offset the loss of access to the U.S. market, but they offer some relief to an industry hindered by challenges.

Unpleasant surpise: Cobden showcases her disappointment with the second extension of Canada’s remission program for certain steel importers, a move that, in her view, weakens Canada’s retaliatory tariffs on U.S. steel.

Message to the government: Following Carney’s announcement that the remission program will conclude at the end of January, Cobden signals her intent to hold the federal government accountable. This termination point is later than initially planned, which raises concerns.