Sisi Chan

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

The new reality: New measures have been introduced to boost Canada’s domestic market in the face of U.S. tariffs, yet the head of Canada’s steel industry association expressed disappointment over a certain aspect.

Aiding steel and lumber producers, PM Carney targets the establishment of new markets within Canada. However, the Canadian Steel Producers Association remains skeptical.

The newly introduced measures consist of stringent quotas on foreign steel entering Canada and a reduction in rail freight rates for materials crossing provincial borders.

The perspective: Catherine Cobden, CEO of the Canadian Steel Producers Association, suggests that the measures will not fully compensate for the loss of access to the U.S. market, however, they indicate progression in the right direction.

Of key concern to the association was the decision to extend Canada’s remission program for some steel importers in critical industries, potentially diluting Canada’s retaliatory tariffs on U.S. steel.

The final say: Catherine Cobden concluded by stating she would hold the federal government accountable after PM Carney’s promise that the remission program would end by the end of January—three months beyond the original deadline.