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Global News
a few seconds ago
- Global News
Stelco owner ‘doesn't give two hoots' about the workers: Ontario Premier Doug Ford
Ontario Premier Doug Ford says the head of the company that owns Hamilton-based steel company Stelco 'doesn't give two hoots' about those workers. Lourenco Goncalves, the president and CEO of Cleveland-Cliffs, has spoken positively about U.S. President Donald Trump's tariffs on steel, including doubling them from 25 to 50 per cent. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Earlier this week Goncalves said in a press release that he applauded the U.S. Department of Commerce's move to expand the scope of steel and aluminum tariffs. At a press conference today, Ford said Stelco should find a new owner because the current one does not support its workers. Cleveland-Cliffs did not immediately respond to a request for comment. The premier was in Hamilton to announce $70 million worth of funding for training and employment services for workers in industries affected by U.S. tariffs.
CTV News
a few seconds ago
- CTV News
‘I'm going to blast him': Ford slams Stelco's U.S. owner for supporting U.S. tariffs
Ontario Premier Doug Ford speaks to the media during a funding announcement in Hamilton, Ont., Wednesday, Aug. 20, 2025. THE CANADIAN PRESS/Carlos Osorio Ontario Premier Doug Ford says that the U.S. owners of Hamilton-based Stelco don't give 'two hoots' about the company's thousands of workers in Ontario. Ford made the comment during a news conference on Wednesday afternoon where he detailed a $70 million investment in expanded training and employment services supports for workers in industries impacted by U.S. President Donald Trump's tariffs. ADVERTISEMENT During the news conference, the premier accused Lourenco Goncalves, chairman and CEO of Cleveland-Cliffs, of 'signing away' Canadian steel to the United States and cheering on Donald Trump's 50 per cent tariffs on steel and aluminum — policies Ford says put Ontario workers directly at risk. Cleveland-Cliffs acquired Stelco for $3.4 billion in 2024. '…not the workers at Stelco, because I love the workers, but their owner... I got a problem with that guy,' Ford said. Goncalves has expressed support for Trump's tariffs on numerous occasions, going so far as to call on Canadian government officials to place similarly punitive tariffs on foreign steel imports. Earlier this week, Cleveland-Cliffs also issued a statement applauding a decision by the U.S. Commerce Department to add more than 400 new product categories to the list of derivative steel and aluminum products subject to a 50 per cent tariff. A 'Team Canada' defense Speaking with reporters, Ford framed his comments as a defense of Canadian industry and workers, saying Ontario steel employees can compete on a level playing field without interference. Ontario Premier Doug Ford Ontario Premier Doug Ford speaks to the media during a funding announcement in Hamilton, Ont., Wednesday, Aug. 20, 2025. THE CANADIAN PRESS/Carlos Osorio (The Canadian Press) 'We're on one team. It's called Team Canada. We work together because we have the greatest workers in the world, and we can compete,' Ford said. The premier then accused Goncalves of backing Trump's policies at the expense of Ontario jobs. 'He's signing all these forms… Cleveland-Cliffs, or whatever the heck their name is. 'Bring this deal down to the U.S,.'' Ford said. 'That's the owner. He doesn't give two hoots about his workers at Stelco when he's signing all these letters, because I've seen these letters.' Ford suggests new ownership Ford escalated further, even musing about the province intervening if Cleveland-Cliffs continues to undermine Stelco's Canadian operations. 'Maybe they should find a new owner for Stelco. Maybe we (the province) should just buy em,' Ford said. 'Why doesn't he just stay in the U.S.? ...I'm done with this guy. 'I look forward to getting a phone call from him because he has my cell number. I'm going to blast him.' $70 million investment to protect workers The premier's remarks came as part of a broader announcement on worker protection and retraining programs. The government will spend $70 million on training and employment services, including $20 million to launch new 'Protect Ontario Workers Employment Response.' Ontario Premier Doug Ford Ontario Premier Doug Ford deaparts after delivering a funding announcement in Hamilton, Ont., Wednesday, Aug. 20, 2025. THE CANADIAN PRESS/Carlos Osorio (The Canadian Press) 'These centers will provide workers with immediate access to training and employment services, and we're doing this proactively, so these centers are ready to go when workers need them,' Ford said. An additional $50 million will go to the Better Jobs Ontario program, which helps displaced workers pay for tuition, transportation, and child care while they retrain for in-demand jobs. 'I get passionate about this because I want to protect our country and our province,' Ford said. 'I love the frontline workers, and if I don't kick back, no one else is going to kick back at these guys.'
CTV News
a few seconds ago
- CTV News
Trump raises pressure on central bank, calls for Fed governor to resign
U.S. President Donald Trump ramped up pressure on the U.S. central bank Wednesday, calling for Federal Reserve Governor Lisa Cook to step down -- after his recent criticism of Fed Chair Jerome Powell for not lowering interest rates sooner. 'Cook must resign, now!!!' Trump wrote on his Truth Social platform, while sharing a Bloomberg news report on how the Federal Housing Finance Agency's director has called for greater scrutiny of Cook over a pair of mortgages. FHFA director Bill Pulte -- a staunch ally of Trump -- had reportedly written a letter to the U.S. attorney general calling for an investigation of Cook while suggesting that she might have committed a criminal offense. Pulte Confirmed to Lead FHFA Amid Questions Bill Pulte during a Senate Banking Committee confirmation hearing in Washington, DC Photographer: Al Drago/Bloomberg (Al Drago/Photographer: Al Drago/Bloomberg) The Trump administration has pursued allegations of mortgage fraud against high-profile Democrats who are seen as political adversaries of the president. It was not immediately clear if such a probe will take place targeting Cook, the first Black woman to serve on the central bank's board. The president is also limited in his ability to remove officials from the central bank. A Supreme Court order recently suggested that Fed officials cannot be taken out of their jobs over policy disagreements, meaning they have to be removed for 'cause,' which could be interpreted to mean wrongdoing. Board of Governors of the Federal Reserve member Lisa Cook, speaks during a conversations with leaders from organizations that include nonprofits, small businesses, manufacturing, supply chain management, the hospitality industry, and the housing and... Board of Governors of the Federal Reserve member Lisa Cook, speaks during a conversations with leaders from organizations that include nonprofits, small businesses, manufacturing, supply chain management, the hospitality industry, and the housing and education sectors at the Federal Reserve building, Sept. 23, 2022, in Washington. (AP Photo/Manuel Balce Ceneta) 'A disaster' The U.S. leader's targeting of Cook, who sits on the Fed's rate-setting committee, comes after his repeated broadsides against Powell while the central bank kept the benchmark lending rate unchanged this year. On Tuesday night, Trump again called for a 'major rate cut,' saying there was 'no inflation' and claiming that the Fed's policymaking was harming the housing industry due to elevated mortgage rates. He called Powell 'a disaster' in a social media post. Although the US consumer price index, a key inflation gauge, was steady at 2.7 per cent in July, it remains higher than it was a few months earlier. Fed officials have been trying to ensure inflation is kept in check -- despite the effects of Trump's sweeping tariffs -- while balancing risks to the labor market as they mull the right time for further rate cuts. Cook took office as a Fed governor in May 2022 and was reappointed to the board in September 2023. She was sworn in later that same month for a term ending in 2038. She has previously served on the Council of Economic Advisers under former president Barack Obama. Earlier this year, Trump suggested that what he called an overly costly renovation of the Fed's headquarters could be a reason to oust Powell, before backing off the threat. Powell's term as Fed chair ends in May 2026.
