Sisi Chan

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

Canada’s Steel industry head voices both praise and concern over Prime Minister Mark Carney’s latest measures to bolster the domestic market in the shadow of U.S tariffs.

PM Carney’s measures aim to aid domestic steel and lumber producers, enforcing strict limits on foreign steel entering Canada and lessening freight charges for interstate rail material transportation.

Catherine Cobden, CEO of Canadian Steel Producers Association, suggests these measures won’t fully offset the losses incurred due to restricted access to the U.S. market. Yet, she recognizes it as a forward step for a sector urgently needing support.

Cobden expresses her dissatisfaction with the government’s decision to prolong the tariff remission for certain steel importers. This move, she believes, will weaken the counteractive effect of Canada’s tariffs on U.S. steel.

Cobden intends to hold the federal government accountable for its promise to wrap up the remission program by the close of January, which extends far beyond its initial end date.