Sisi Chan

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

Canada’s steel industry association commends measures introduced by Prime Minister Mark Carney, seeking additional steps to bolster the industry.

In a recent initiative, Carney implemented measures to aid both steel and lumber producers in Canada. These involve tightened quotas as well as slashed freight rates.

The Canadian Steel Producers Association CEO Catherine Cobden expressed that these actions wouldn’t completely cover the loss due to restricted access to the U.S. market, but are seen as a positive development.

However, Cobden expressed frustration at Ottawa’s decision to extend Canada’s remission program for certain steel importers in critical sectors, a decision that dilutes Ottawa’s retaliatory tariffs on U.S. steel.

Ending on an optimistic note, Cobden anticipates the remission program to conclude by the end of January, as assured by Mark Carney.