Sisi Chan

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

The head of Canada’s steel industry association expressed disappointment at measures introduced by Prime Minister Mark Carney to mitigate the impact of U.S tariffs on the domestic steel industry, pointing out some inadequacies.

New measures announced by Carney aim to assist steel and lumber producers in finding new markets within Canada. These include tighter controls on foreign steel in Canada, and decreased freight rates for provincial rail materials transport.

Catherine Cobden, CEO of the Canadian Steel Producers Association, argues that the measures will not fully compensate for the loss of the U.S. market, though concedes they represent a step in the right direction.

Critics notably oppose the continuation of Canada’s remission program for steel importers in key industries. This program detracts from Ottawa’s retaliatory tariffs on U.S. steel, a move Cobden finds disappointing.

Cobden pledged to make the federal government accountable for the remission program. This program, as vowed by Carney, will terminate in January, three months past the original deadline.