Hamilton’s industrial sector is braced for “huge disruptions” as U.S. President Donald Trump’s 25 per cent tariffs take effect Tuesday.
Faced with uncertainty, local steelmakers and their customers are pausing plans, said Keanin Loomis, president and CEO of Canadian Institute of Steel Construction.
“We’re highly integrated [with U.S. industries] and this is going to have huge disruptions for us for sure,” said the Hamilton resident.
“They’re already being felt. Contracts are getting cancelled, bids are getting cancelled and it has already impacted the price of steel.”
Loomis said the full extent of those initial impacts will be clearer when the financial markets reopen Monday, and as the U.S. releases more details.
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