Tag: Steel

Stelco CEO turns attention to M&A as Trump lifts steel tariffs

President Donald Trump’s decision to lift the 25% tariffs on steel from Canada and Mexico sent shares of Stelco Holdings Inc. to its biggest rally in 18 months. Now the CEO of the Canadian steelmaker said the party is just getting started. Stelco’s steelmaking operations posted an earnings before interests, taxes, depreciation and amortization margin…

China to restrict imports of scrap steel, aluminum from July

A worker cuts metal at a scrap metal stall at a recycling yard at the edge of Beijing, China, October 20, 2016. REUTERS/Thomas Peter SHANGHAI (Reuters) – China will restrict imports of scrap steel and aluminum from July 1, the environment ministry said on Saturday. Scrap steel and aluminum would be moved from an unrestricted…

U.S. steel tariffs cause layoffs in Sault Ste. Marie, Ont.

SAULT STE. MARIE, ONT.—A manufacturing company says it’s laying off workers in Ontario in response to American tariffs on Canadian steel and aluminum. A spokesperson for Tenaris, which manufactures seamless steel pipes, says 40 workers at the company’s mill in Sault Ste. Marie, Ont., will be laid off on Sunday due to changes in the…

Canada, European Union countries challenge Trump’s steel and aluminum tariffs

OTTAWA—Foreign Affairs Minister Chrystia Freeland joined the European Union on Friday to challenge U.S. tariffs on steel and aluminum shipments with the World Trade Organization, and filed a separate challenge under the North American Free Trade Agreement arguing America is offside with international trading rules. “The tariffs … are completely unacceptable, and in fact they…