.jpg)
1 hour ago
3
Article content
TORONTO, May 04, 2026 (GLOBE NEWSWIRE) — United Steelworkers union (USW) National Director Marty Warren issued the following statement in response to the federal government’s announcement of new financing for tariff-impacted businesses:
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
“Today’s announcement is a positive step for companies facing serious pressure from the ongoing U.S. trade war. It matters to workers because these businesses support good jobs across Canada’s industrial supply chain.
Article content
Article content
The new BDC program can provide crucial emergency liquidity to help viable businesses keep operating, while the additional Regional Tariff Response Initiative funding can support retooling, productivity and market diversification. These measures are important and can help stabilize Canada’s industrial footprint.
Article content
Article content
But preferential financing alone will not be enough. Loans can help companies survive immediate pressure, but they also increase debt loads at a time when many businesses are facing lost sales, reduced revenues and uncertainty about future demand. To protect jobs and maintain production, companies need customers, orders and a domestic market to sell into.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
That is why the federal government must move quickly to expand its steel and aluminum derivative tariff list to provide market space for domestic producers impacted by U.S. steel and aluminum derivative tariffs, as well as continue to tighten and enforce tariff-rate quotas and continue to take action against unfair imports, dumped products and diverted or transshipped goods.
Article content
We also need direct supports for workers, including stronger EI, improved Work-Sharing and income supports for those facing layoffs or reduced hours. And public support to employers must be tied to maintaining jobs, production and investment in Canada.
Article content
Canadian steelworkers can compete with anyone when the rules are fair. Canada needs a comprehensive steel industrial strategy that protects jobs, defends our domestic market and builds the industrial capacity we need for the future.”
Article content
Article content
About the United Steelworkers union
Article content
The USW represents 225,000 members in nearly every economic sector across Canada and is the largest private-sector union in North America, with 850,000 members in Canada, the United States and the Caribbean.
Article content
Each year, thousands of workers choose to join the USW because of the union’s strong track record in creating healthier, safer and more respectful workplaces and negotiating better working conditions and fairer compensation – including good wages, benefits and pensions.
Article content
For more information, please contact:
François Soucy, USW Communications, 873-355-2841, [email protected]
Article content
Article content
Article content
Article content
Article content
Article content
English (US)