Terence Corcoran: Stelco caught in an unwinnable trade war
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Terence Corcoran: Stelco caught in an unwinnable trade war
U.S. steel CEO wants PM Carney to join ‘Fortress North America’
One can only sympathize with the 500 members of the United Steelworkers facing temporary layoffs at the Stelco plant in Hamilton, Ont. Even though employment benefits remain in place, the immediate loss of income is understandably painful, which helps explain the broad political support the workers are receiving.
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But it is also possible to have some appreciation of the political burden now being borne by executives at Stelco and its U.S. parent company, Ohio-based Cleveland-Cliffs Inc. Since the layoffs were announced, the two corporations have been the target of a national shaming campaign that starts at the office of Prime Minister Mark Carney and continues down through his Industry Minister, Mélanie Joly, Conservative Leader Pierre Poilievre, NDP Leader Avi Lewis, Ontario Premier Doug Ford, union executives and media commentators.
The ultimate threat surrounding the layoffs is that Ottawa should, could or might nationalize Stelco. Forget that.
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