Stelco layoffs show wider impact of U.S. tariffs
Stelco layoffs reflect U.S. tariff pressure on Canada’s steel supply chain See how weak demand and imports are reshaping jobs across the industry
Industry experts say Stelco’s planned layoffs in Hamilton and Lake Erie are another sign that U.S. tariffs are affecting more than one company, putting pressure on steel demand across Canada’s manufacturing supply chain.
Stelco said Monday it will cut up to 500 jobs, pointing to the trade dispute, weak demand and continued import pressure. The announcement follows similar job losses at Algoma Steel and the closure of ArcelorMittal’s Hamilton wiredrawing mill.
Experts said companies that use steel are facing weaker U.S. sales and reducing production, which lowers demand for Canadian steel. Stelco said the cuts are necessary for its survival, while union leaders and trade groups called for the tariff dispute to be resolved.