Sisi Chan

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

The head of the Canadian steel industry association has expressed mixed feelings about Prime Minister Mark Carney’s measures to bolster the local market surrounding U.S. tariffs.

New Initiatives: Prime Minister Carney has announced new measures aimed at aiding steel and lumber producers. They include tighter foreign steel quotas and potential reductions in freight rates for cross-border movement of materials. These moves are designed to help the industry find promising markets within Canada.

Cobden’s Perspective: Catherine Cobden, CEO of the Canadian Steel Producers Association, has shared some insight on these measures and their implications for the country’s steel industry. She has also voiced concerns about the lack of adequate safeguards for the losses borne due to limited access to the U.S. market.

Disappointment is apparent regarding Ottawa’s second extension of the steel importers’ remission program. There are concerns about how this will impact retaliatory tariffs on U.S. steel and the expected end date for the program.