Canadian Company Announces Mass Layoffs Over US Tariff 'Nuclear Bomb'
Summary
A Canadian paperboard company, RYAM, will temporarily close its plant in Témiscaming, Quebec, affecting 425 workers. The company says the closure is due to high U.S. tariffs that make running the plant too expensive.Key Facts
- RYAM is shutting down its Témiscaming plant on September 15.
- About 425 workers will be impacted by this closure.
- The company blames the closure on U.S. tariffs making the business unsustainable.
- U.S. tariffs were raised on $27.6 billion worth of Canadian goods on August 22.
- These tariffs include products like agricultural goods, manufactured items, and consumer products.
- The U.S. already had tariffs on steel, aluminum, and cars from Canada.
- Canadian Prime Minister Mark Carney stopped trade talks because the U.S. demands were unfavorable to Canada.
- Canada has promised to respond with equal tariffs on U.S. goods.
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