Sisi Chan

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

In an ambivalent response, Canada’s steel industry has expressed both gratitude and concern regarding new measures meant to bolster the domestic steel market against U.S. tariffs.

Prime Minister Mark Carney introduced these measures as part of his effort to bolster the steel and lumber industries in Canada.

Key features of the newly announced reforms include tighter controls on foreign steel imports and decreased freight rates for materials transport within provinces.

Despite the relief these measures offer, Catherine Cobden, CEO of the Canadian Steel Producers Association, stated they may not entirely offset the loss incurred from restrictive U.S. market access.

Cobden critiqued the extension of Canada’s remission program which, in her view, undermines Ottawa’s retaliatory tariffs on U.S. steel.

Lastly, she expressed her intention to hold the federal government accountable for ending the remission program at the end of January, as assured by Mr. Carney.