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Hamilton steel plant to lay off hundreds of workers as U.S. tariffs prompt ‘survival’ move
The company said U.S. tariffs and weak imports have shrunk demand for cold-rolled and galvanized products, forcing a production shift to Lake Erie.
- On Monday, Cleveland-Cliffs Inc. announced it will "indefinitely idle" finishing operations at Hamilton Works, resulting in about 350 unionized employee layoffs effective October 9.
- Mounting pressure from 50-per-cent tariffs imposed by U.S. President Donald Trump last year triggered the decision after CEO Lourenco Goncalves warned Hamilton's galvanizing lines faced risk without stronger trade protections.
- Stelco will shift steel production to Lake Erie Works in Nanticoke, Ont., while maintaining approximately 250 coke unit jobs at Hamilton, according to corporate communications director Pat Persico.
- Cleveland-Cliffs shares declined 9% on U.S. markets, significantly outpacing declines at peers Nucor and Steel Dynamics, reflecting investor anxiety over cross-border trade exposure.
- Industry-Wide challenges persist for Canadian steelmakers following Cleveland-Cliffs' 2024 acquisition of Stelco for about $3.4-billion, as ongoing U.S. trade barriers continue restricting market access.
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Stelco suspended part of its Hamilton plant's operations to ensure its "survival" as a result of U.S. customs duties.
·Montreal, Canada
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Total News Sources33
Leaning Left18Leaning Right1Center9Last UpdatedBias Distribution64% Left
Bias Distribution
- 64% of the sources lean Left
64% Left
L 64%
C 32%
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