Sisi Chan

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

Canada’s steel industry association: responded to Prime Minister Mark Carney’s measures aimed at boosting the domestic market amidst U.S tariffs. While the steps are generally appreciated, the response is tinged with disappointment.

Prime Minister Mark Carney unveiled new measures, devised to support Canada’s steel and lumber industries and bolster their domestic market reach.

Steps taken by the Canadian government include the introduction of stricter quotas and the reduction of freight rates. These efforts are designed to promote local industries with a particular focus on tackling foreign steel competition.

Catherine Cobden, CEO of the Canadian Steel Producers Association, provided her review of the measures. She noted their limitations in fully compensating for lost access to the U.S. market but recognized the progress accomplished.

Cobden expressed her disappointment on the extension of Canada’s remission program regulated by Ottawa. Her prognostications denote an anticipated closure of the program set for January.

The steel industry’s reaction to the new tariff measures underscores an overall tentative optimism, interspersed with calls for more decisive action.