Sisi Chan

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

Catherine Cobden, the lead of the Canadian Steel Producers Association, is expressing both praise and disappointment towards new measures announced by Prime Minister Mark Carney. These measures are intended to support the Canadian market against increased U.S. tariffs.

Carney announced new measures Wednesday

These new measures introduced by Carney include restrictions on foreign steel entering Canada and a plan to reduce freight rates for materials transported across provincial borders.

From Cobden’s perspective, these measures will not entirely make up for the loss of the U.S. market. However, she sees it as a step towards relief for an industry facing significant challenges.

Despite the potential benefits, Cobden expresses disappointment with the second extension announced by Ottawa to Canada’s remission program for some steel importers. She views this as a weakening of Canada’s retaliatory tariffs on U.S. shipments.

Looking ahead, Cobden is gearing up to hold the federal government accountable. This is especially pertinent after Carney promised that the remission program would conclude at the end of January, more than three months past its original deadline.