Canadian Steel Leader Demands Urgent Plan to Counter U.S. Tariffs

UPDATE: A leading voice in the Canadian steel industry has urgently called for a comprehensive plan to address the escalating impacts of U.S. tariffs on Canadian steel and aluminum. Keanin Loomis, president and CEO of the Canadian Institute of Steel Construction, stressed the need for immediate action following a series of aggressive trade moves by the United States, including a recent increase of tariffs to 50 percent on Canadian steel and aluminum.

In March 2023, the U.S. imposed a 25 percent tariff on Canadian steel and aluminum, prompting Canada to retaliate with a similar 25 percent tariff on American imports. Loomis warns that the situation has reached a critical point. “We need to have a real focus on domestic procurement while we’re trying to maintain our access to the U.S. markets,” he stated during an interview on CTV News Channel this past Sunday.

The stakes are high as Loomis highlighted the pervasive anxiety within the industry regarding potential job losses. “I know many of the steel producers in Canada have been adamant to not lay off parts of their workforce,” he noted. However, he cautioned that ongoing U.S. tariffs might threaten the short to mid-term sustainability of Canadian operations.

Furthermore, Canadian Industry Minister Mélanie Joly reaffirmed the government’s commitment to supporting local steel and aluminum workers. In a post on X, she stated, “Our steel and aluminum workers and businesses deserve no less than our full commitment.”

As Canadian producers grapple with the fallout from U.S. trade actions, there are fears that the tariffs could escalate into a deeper crisis. Loomis emphasized the necessity for a robust plan to ensure Canadian fabricators are prioritized, especially for infrastructure projects funded by taxpayers. “We need to know that projects being done here are using Canadian steel to the best extent possible,” he said.

The situation is further complicated by Canada’s own 25 percent tariffs on Chinese steel and aluminum. Recently, the federal government announced exemptions for certain steel and aluminum imports from the U.S. and China, raising questions about the overall strategy to protect Canadian interests.

Loomis is actively engaging with U.S. counterparts to foster a dialogue on this pressing issue. He remarked, “Many of them do not agree with this,” referring to the tariffs, and encouraged a collective effort to raise awareness of the detrimental impacts on both the U.S. and Canadian economies.

As the steel industry faces unprecedented challenges, the urgency for a strategic response grows. Loomis’s call for a unified Canadian approach is not just about preserving jobs; it is about safeguarding the future of an entire sector. The developments in this ongoing trade dispute will be crucial to monitor, as stakeholders seek to navigate the complexities of international trade relationships.

Stay tuned for further updates as this situation unfolds and the Canadian government responds to these pressing challenges.