Sisi Chan

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

The head of Canada’s steel industry has responded to Prime Minister Mark Carney‘s measures aimed at supporting the domestic market amidst U.S. tariffs.

New measures announced by Carney include stricter quotas on incoming foreign steel and reduced freight rates for materials transported across provinces by rail.

Catherine Cobden, CEO of Canadian Steel Producers Association, expressed that the new measures don’t entirely offset the loss of the U.S. market. However, she acknowledges these initiatives as a favorable shift for the struggling industry.

The industry expressed disappointment as the Ottawa government extends the remission program. This action is viewed as diluting the retaliatory tariffs on U.S. steel and contradictory to boosting the domestic market.

Cobden has decided to hold the federal government accountable after Prime Minister Carney promised the conclusion of the remission program by the end of January.