Sisi Chan

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

The big picture: Canada’s steel industry leader expresses dissatisfaction with Prime Minister Mark Carney’s tariff measures relative to U.S. tariffs impacting the domestic market. Announcing fresh initiatives, Canada is aiding steel and lumber producers to seek new markets domestically.

As part of these initiatives, the Canadian government is implementing stricter quotas on foreign steel imports. There is also a pledge to cut down freight rates for materials transported across provincial borders by rail. Catherine Cobden, CEO of the Canadian Steel Producers Association, acknowledges these measures are a positive step, albeit not fully compensating for lost access to the U.S. market.

Realm of Contention: Cobden voices dissatisfaction with Ottawa’s decision to extend Canada’s remission program for certain steel importers a second time. This extension, according to her, undermines Canada’s retaliatory tariffs on U.S. steel.

Awaiting the end of the remission program by the close of January, as promised by Prime Minister Carney, Cobden remains staunch in holding the federal government accountable for their assured actions.