Sisi Chan

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

The Canadian steel industry, represented by a key executive, has expressed dissatisfaction with Prime Minister Mark Carney’s measures aimed at ameliorating the challenges that U.S tariffs have imposed on the domestic market.

Carney’s actions include tighter quotas on foreign steel and reduced freight rates for materials crossing provincial boundaries.

Catherine Cobden, CEO of the Canadian Steel Producers Association, argues that these measures will not fully rectify the loss of access to the U.S market, but they offer a step towards relief for the industry.

Ottawa’s decision to extend the remission program for steel exporters and signals for softer retaliatory tariffs have been met with disappointment by the steel industry.

The industry plans to hold Carney accountable for a promise he made: the remission program will be phased out by the end of January.

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