Sisi Chan

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

The Canadian Steel Producers Association expressed disappointment in aspects of the new tariff measures announced by Prime Minister Mark Carney, particularly concerning U.S. tariffs.

The new measures announced by Mark Carney aim to bolster the steel industry and other domestic producers, including quotas on foreign steel and commitment towards reduced freight rates.

According to Catherine Cobden, CEO of the Canadian Steel Producers Association, the measures, despite being a progressive step, will not fully offset the loss experienced due to restricted U.S. market access.

Cobden’s dissatisfaction with Ottawa’s remission program extension was apparent, as she mentioned retaliatory tariffs on U.S. steel.

The federal government will be held accountable by Cobden, as she expects the remission program to terminate by January, three months after the initial deadline.