What happened
Hundreds of steelworkers in southern Ontario who are facing temporary layoffs may be recalled if Canada and the United States reach a trade deal on steel. The CEO of Cleveland-Cliffs, the US-based parent company of Stelco, made this statement. He believes the Canadian market is too small for multiple companies to produce galvanized steel, including imports.
The CEO has been pushing the Canadian government for stronger protections against foreign steel imports for over a year. He argues that current measures have helped the hot-rolled steel market but not the galvanized steel market. He also rejected comments from the Industry Minister that his company cannot blame layoffs on US tariffs, calling the comments unfair.
The CEO supports protecting the steel industries in both Canada and the US from foreign imports. He wants a trade arrangement that restricts overseas steel imports and restores access to the US market for Canadian galvanized steel. This comes after Stelco announced plans to lay off up to 500 workers due to the ongoing trade crisis and weak demand.