What is Stelco and why has it become a flashpoint in the Canada-U.S. trade war?
· Financial Post
Hamilton-based Stelco Holdings Inc. sent shockwaves through an already embattled Canadian steel industry when U.S. parent company Cleveland-Cliffs Inc. announced on Sept. 28 it would indefinitely idle its Hamilton plant and lay off hundreds of workers. In response, Industry Minister Mélanie Joly has threatened legal action if Stelco does not preserve its Ontario jobs, citing commitments agreed upon under the Investment Canada Act when Cleveland-Cliffs first assumed ownership of the company. Joly's moves are the latest development in the growing saga of Stelco, a company with a storied history that has become a flashpoint in the Canada-United States trade war. Read More
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