Sisi Chan

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

The head of Canada’s steel industry association expresses disappointment in the recent package of measures by PM Mark Carney to boost the domestic market in the face of U.S. tariffs.

PM Carney announces new measures to aid steel and lumber producers in finding novel markets within the Canadian territory.

Details on the new measures include tighter foreign steel quotas and trimmed freight rates for materials crossing provincial borders.

Catherine Cobden, CEO of Canadian Steel Producers Association, appreciates the measures but points out that they won’t replace the loss from diminished access to the U.S. market.

The industry expresses dissatisfaction over Ottawa’s decision to extend Canada’s remission program for some steel importers, which weakens Ottawa’s retaliatory tariffs on U.S. steel.

Cobden voices her intention to hold the federal government to their promises regarding the conclusion of the remission program at the end of January.