Sisi Chan

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

Canada’s steel industry association identifies the recent package of measures to boost the domestic market as helpful, particularly in relation to U.S. tariffs.

The new measures announced by Carney encompass tighter quotas on foreign steel entering Canada and the pledge to lower freight rates for materials crossing provincial borders.

Catherine Cobden, CEO of The Canadian Steel Producers Association, declares the new measures won’t fully compensate for the losses from reduced U.S. market access. But Cobden portrays them positively, perceiving these measures as progressive steps.

Cobden voices her dissatisfaction with Ottawa’s second extension to Canada’s remission program, blaming it for undercutting Ottawa’s retaliatory tariffs on U.S. steel.

Carney promised a conclusion to the remission program, a commitment that Cobden intends to hold the federal government accountable for, having laid a specific deadline.