Stelco

Stelco, the Ontario steelmaker, is slowing operations and laying off hundreds of workers in Hamilton and Nanticoke. CEO Alan Kestenbaum said no amount of money could have prevented the slowdown, pointing to the impact of US tariffs on Canadian steel. Reports link the decision to the trade war under Trump, and commentators are debating whether Canada's steel industry can survive. Workers describe the layoffs as devastating, with many facing an uncertain financial future.

Prime Minister Mark Carney accused US steelmaker Cleveland-Cliffs of betraying Canadian workers after it announced plans to shut down parts of its Stelco operations in Ontario. Carney said the government will take all necessary steps to ensure the company meets its legal obligations, protecting jobs and communities that depend on the steel industry.