“We’ve hired the best lawyers in Canada”: Joly discusses Hamilton Stelco job losses

Canada's Minister of Industry, Mélanie Joly, says the federal government believes Stelco has broken its commitments under the Investment Canada Act after the steel maker moved production from its Hamilton plant to Lake Erie Works in Haldimand. Joly outlined possible court options, including forced compliance, financial penalties and forced divestiture of Stelco's Canadian assets. She said the government would fight to keep jobs in Hamilton and would be open to negotiations if Stelco chose to come to the table.

• Joly says Stelco's Investment Canada Act commitments are broken
• Stelco halted production at its Hamilton plant amid U.S. tariff pressure
• Possible court options include forced compliance, financial penalties and divestiture
• Government says it is open to negotiation

Minister of Industry of Canada Mélanie Joly spoke about possible penalties for Stelco after the Ontario-based steel manufacturer announced last month that pressure from U.S. tariffs had forced it to concentrate steel production at its Lake Erie Works plant in Haldimand and halt production at its plant in Hamilton. “It is our opinion that the commitments by Stelco, under the Investment Canada Act, are broken. And in that sense, we don’t think any market conditions or a different business plan can explain the behaviour of Stelco. The CEO has been clear, he has been advocating for the imposition of U.S. tariffs on steel and steel makers here in Canada,” Joly said. Joly continued, “We’re reviewing this Stelco letter that was sent to us… A few possible options of a court process would include: First, forced compliance of undertakings. Second: Financial penalties. And third, and more importantly, forcing divestiture, forcing Stelco to sell its assets here in Canada. We’ve hired the best lawyers in Canada to help us to deal with that and we will fight to keep the jobs in Hamilton.” She added that if Stelco wanted to come to the table to negotiate, the federal government would be “open to that.” For more info, please go to https://globalnews.ca/news/12101944/stelco-federal-government-legal-action/ Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Follow Global News on X HERE: http://bit.ly/1Toz8mt Follow Global News on TikTok HERE: https://www.tiktok.com/@globalnews.ca?lang=en #GlobalNews