Sisi Chan

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

Canada’s steel industry welcomes new tariff measures, despite some disappointment expressed. Prime Minister Mark Carney’s package of measures, mostly advantageous for the domestic market, confronts U.S. tariffs.

Carney introduced measures designed to assist Canada’s steel and lumber producers. Included are tighter quotas on foreign steel and reduced freight rates for materials transported across provincial lines.

Catherine Cobden, CEO of the Canadian Steel Producers Association, suggests measures may not fully compensate lost access to the U.S. market. Cobden, however, affirms the steps are headed in the right direction.

Continuing, Cobden expressed disappointment over Ottawa’s decision to grant an extension to Canada’s remission program for certain steel importers. This action dilutes the impact of Ottawa’s retaliatory tariffs on U.S. steel.

Cobden is committed to hold the federal government accountable to ending the remission program by the end of January. A delay of over three months from the originally set deadline.