Toronto steel manufacturer says U.S. tariffs have already hit business hard

CBC News

· Posted: Mar 12, 2025 12:33 PM EDT | Last Updated: 8 minutes ago

Though U.S. tariffs connected Canadian alloy and aluminum lone went into effect Wednesday, the manager of a Toronto alloy products shaper says the concern has already taken a large hit.

"The menace of the tariffs was capable to harm our concern and we felt the consequences immediately," says Rahim Moloo, managing manager of Conquest Steel. 

"Well earlier the tariffs were finalized we received cancellations from our American customers, trapping a batch of inventory. And Canadian distributors decided to clasp disconnected connected taking caller orders and shipping to the U.S. due to the fact that of the uncertainty," helium told CBC Radio's Metro Morning on Wednesday.

Conquest Steel, based retired of North York, designs and manufactures alloy landscaping products. Moloo says it mislaid astir 20 per cent of its concern erstwhile U.S. President Donald Trump began musing astir stiff tariffs connected Canadian exports. 

On Tuesday, aft a greeting of Trump lashing retired against Canada and threatening staggering 50 per cent tariffs connected alloy and aluminum, the White House announced the import levies would beryllium scaled backmost to 25 per cent. The tariffs went into effect astatine midnight. 

Moloo says the impacts connected Conquest Steel volition ripple done its proviso chain. The institution sources its alloy from Hamilton, screws and different hardware from St. Catharines and cardboard products from a spouse successful Woodbridge.

"So there's a batch of trickle down to each sectors of the economy," helium told big David Common. 

Moloo says helium supports some the state and Ottawa taking retaliatory measures. The national authorities has announced tariffs connected $29.8 cardinal worthy of American goods successful effect to Trump's levies connected alloy and aluminum.

Meanwhile, Ontario Premier Doug Ford and national Finance Minister Dominic LeBlanc are heading to Washington, D.C. to conscionable with apical officials successful the Trump administration.

But for Moloo, the harm has already been done, and helium says he'll beryllium looking to bash concern otherwise moving forward.

"It's not astir whether the tariffs are 25 per cent oregon 50 per cent, the mode we are doing concern has to change. Although it is successful some countries' involvement to enactment retired a deal, I'm not definite it's a large thought to trust connected a woody from idiosyncratic who has ripped up a erstwhile woody that they made — who's temperamental and tin alteration connected a whim," helium said, referring to Trump.

Trump appears to privation to rip up the existing Canada-U.S.-Mexico Agreement (CUSMA), a escaped commercialized woody helium negotiated during his archetypal word and erstwhile called "the champion and astir important commercialized woody ever made by the USA."

You tin perceive to the afloat treatment with Moloo successful the video subordinate above.