Sisi Chan

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

Introduction: Canada’s steel industry has expressed mixed feelings about newly announced measures by Prime Minister Mark Carney. Despite the appreciative reaction to the support package, industry leaders feel more needs to be done.

New measures announced: In a renewed push to support the country’s beleaguered steel and lumber industries, Carney announced tighter quotas on foreign steel and reduced freight costs for provincial transportation.

Reaction from the industry: Catherine Cobden, the CEO of the Canadian Steel Producers Association, appraised these measures but expressed doubts about their ability to fully offset the lost U.S. market access, albeit acknowledging them as a vital advancement.

Additional concerns: Another point of contention for the industry has been the extension of the remission program for steel importers, which arguably weakens the impact of retaliatory tariffs on U.S. steel. Cobden reiterated the industry’s intent to hold the government to account over this issue.

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