Sisi Chan

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

Canada’s steel industry has given a mixed response to new government measures aiming to alleviate the impacts of U.S. tariffs. Although the steps taken were appreciated, the industry demands more concrete action.

Prime Minister Mark Carney introduced new measures to boost the steel and lumber industries domestically. These included tightening quotas on foreign steel coming into Canada and commitments to trimming freight rates.

Catherine Cobden, the CEO of the Canadian Steel Producers Association, voiced her concerns stating the measures might not completely make up for the losses from the U.S. market. However, she acknowledged they signify movement in the correct direction.

Cobden criticized the government’s decision to continue the remission program for some steel importers, arguing it dampens the effects of the retaliatory tariffs applied to U.S. steel products. She declared intentions to hold the government accountable to its commitment to end the program in January.