Sisi Chan

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

Initial Section: The head of Canada’s steel industry association expresses partial dissatisfaction with the new protective measures by Prime Minister Mark Carney in response to the U.S. tariffs, which pose challenges for the domestic market.

Mid-section: A brief on the supportive measures introduced by Carney for the Canadian steel and lumber industries. These include tighter restrictions on foreign steel entering Canada and a reduction in freight rates across provinces.

Catherine Cobden, CEO of the Canadian Steel Producers Association, although acknowledging these measures, asserts her concern that they won’t completely compensate for the lost access to the U.S. market. These steps are nevertheless pivots in the right direction for the industry.

Cobden voicing her disappointment over Ottawa’s second extension to Canada’s remission program for some steel importers, which weakens Ottawa’s retaliatory tariffs on U.S. steel.

However, she holds hope. Cobden awaits the federal government’s promise to conclude the remission program by the end of January, as assured by Prime Minister Carney.