Cleveland-Cliffs CEO says Stelco workers to be recalled if steel trade deal reached
The chief executive of Stelco’s U.S.-based parent company says hundreds of southern Ontario steelworkers facing temporary layoffs will be recalled if Canada and the United States reach a trade deal on steel. Lourenco Goncalves, chairman and CEO of Ohio-based Cleveland-Cliffs, says the Canadian market is too small to accommodate galvanized steel production from both Stelco [...]
TL;DR
- Hundreds of southern Ontario steelworkers may be recalled if a Canada-U.S. steel trade deal is reached.
- Cleveland-Cliffs CEO Lourenco Goncalves believes the Canadian market cannot support galvanized steel production from Stelco, ArcelorMittal Dofasco, and imports.
- Goncalves has been pushing for stronger protections against foreign steel imports for over 18 months.
- Existing measures have helped the hot-rolled steel market but not adequately protected galvanized steel.