Sisi Chan

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

In an uncertain landscape for Canada’s steel industry, recent tariff measures announced by Prime Minister Mark Carney bring a mix of relief and demands for more.
Reacting to U.S tariffs, the industry shows diverging expectations towards Carney’s strategies.

New Measures:

• Tighter quotas on importation of foreign steel.
• Reduction in freight rates for material movement across provincial borders.

Further, these strategies aim to uplift both steel and lumber market in Canada.

Catherine Cobden, CEO of the Canadian Steel Producers Association, voices that while the measures are welcome, they may not be a holistic solution to combat the issues arising from lack of access to U.S markets.

Resentment grows within the steel industry towards the extension of the remission program by Ottawa. This program offers markdowns on Ottawa’s retaliatory tariffs on U.S. steel. Cobden insists on sticking to the end date of the said program as earlier promised by the government.