The Ontario NDP is calling on Premier Doug Ford and Prime Minister Mark Carney to use taxpayer funds to buy Stelco, the Hamilton steel giant whose owner has sided with U.S. President Donald Trump in his trade war with Canada.
Stelco, which is owned by U.S.-based Cleveland Cliffs, begins laying off hundreds of workers at its manufacturing plant in Ontario after claiming that the facility was producing more steel than the company could sell on Canadian soil.
Ontario NDP Leader Marit Stiles told reporters Tuesday that public ownership of Stelco is emerging as the only option to save roughly 350 jobs.
The party’s proposal is being echoed by Federal NDP Leader Avi Lewis, who said “it’s time to nationalize Stelco.”
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“Stelco’s American owners have broken their commitments. Their CEO supports Trump’s tariffs, which are designed to deindustrialize our economy and destroy our manufacturing base,” he said. Lewis said with more than 500 workers in Hamilton facing layoffs, nationalizing the firm is the path to saving those jobs.
Stiles said it could be an opportunity to use provincial power to fast-track new infrastructure projects that commit to using Canadian steel.
“This is a win-win-win, and it’s time for the premier to put his money where his mouth is,” she said.
Stiles was referring to comments Premier Ford made in Aug. 2025, when Cleveland Cliffs owner Lorenco Goncalves called Trump’s tariffs “bold action” that would “strengthen the American steel industry.”
Ford, at the time, said Golcalves “doesn’t give two hoots about his workers at Stelco and mused about potentially using taxpayer funds to take over the company.”
“Maybe they should find a new owner for Stelco, maybe we should just buy em,” Ford said.
Ford government insiders insist the comment was made in passing but acknowledged that the future of the steel industry is being challenged by the current US tariffs.
While a senior source said the government would take a “wait and see” approach, they suggested the country is facing the larger question of whether it wants to maintain a domestic steel industry.
The source said the federal government would have to take the lead on the issue, but would need to assess its options after the U.S. mid-term elections that could realign the political base of power in Washington D.C.
While the NDP wouldn’t offer a potential purchase price, Stilles acknowledged the NDP’s proposal is “ambitious” and would require federal backing.
Members of United Steelworkers, a private-sector union that represents more than 225,000 workers in Canada, have been also vocal that public ownership is the best option, Stiles said.
In 2024, Canada gave U.S.-based Cleveland-Cliffs the go-ahead to purchase Stelco under the Investment Canada Act (ICA), which regulates foreign takeovers.
The obligations laid out in that agreement, the federal government said, could result in legal action against the American company.
In the letter to Stelco, Federal Industry Minister Mélanie Joly said Canada’s approval of the deal was contingent on the new owner maintaining the number of union jobs and the majority of non-union positions.
Stelco pushed back on Joly’s accusations in its letter and said it “remains in compliance” with the undertakings in the agreement from 2024.
Why would taxpayers want they money used to buy a money losing business? This is so typical of the simpleton minds of the NDP. They want government to own the businesses and the taxpayers to fund the losses. If the business was profitable, the private sector would keep it running.
When you resell Chinese steel, one suffers the consequences. Well the Liberal government allowed it. Elbows up folks.
Yeah. Great idea. Stelco can become the new Canada Post. Useless and mired in debt. And Would somebody please stick a cork in the stupid bitches mouth. Even more annoying than chow Mein if that’s possible
Of course NDP wants government to buy it, communist baffoons
Resign Carney!!!!!!!
It’s all political for the liberals, Carney must resign.
It is a private company whose fortunes raise and fall with the demand for their product. You don’t make a product that sells, then you go out of business. Simple as that. The government cannot and should not buy out, loan, or grant any monies to private companies. Let the market decide who is successful or not.
Anything for attention
It has been easy for Canadian steel producers to just manufacture rolled steel for the car plants. Unfortunately it would appear those days may be gone. I really don’t know the finances of the steel industry and I am a right wing SOB so I am generally not a fan of “Nationalization”.
I know there are many types of steel not made in Canada but used here. Perhaps with Government support we could make a few of those. Also I would like to see Canada become a Large Scale producer of Military equipment. We should become a partner with arms manufactures in all our allied countries. If there is a war in Europe or Asia We could be a safe haven for their defense industry here.
Anonymous
October 13, 2026 at 3:32 pm
When governments pick which companies win or lose, you know that government is communist.
Trumps tariffs are all about picking winners and losers.
While I absolutely detest Trump, I would not have picked him for a Commie.
If that company couldn’t find a profitable solution, does anyone in the right mind think the Canadian government could??? LOL OR do we all expect them to run it and employ people at a total loss to Canadian taxpayers??
Buy it for $1….or else the taxes on under-utilized industrial property will be massive.!
LOL, Venezuela North
NO NO NO A government industry means never get competitive, strikes and unreal increases in personnel associated costs every contract. Perks for private Canadian investors with an employee buy-in ala Lee Iacocca and support to down stream Canadian companies to exploit those using US steel fabricated products.
The NDP say buy Stelco with tax payer dollars…..ndp can’t find their azz with both hands. I say do the opposite of what the ndp say. Stick it to the Americans and have a Canadian company buy it.
Finally adults who entered the room. Too bad the liberals and Conservatives are children of Wallstreet
When governments pick which companies win or lose, you know that government is communist.
Buy everything, make it a public company hahaha hahaha hahaha hahaha 🤣