Canadian steel and aluminum industries are bracing for another potential downturn due to President Trump's recent tariff threat. Distributors have already begun canceling orders, leading to predicted sales drops of 25% for some businesses like Conquest Steel. Some Canadian distributors have halted shipments to the U.S. while emphasizing the impact of the uncertainty. The context of this threat echoes previous tariffs imposed in 2018, which now raises concerns about the long-term effects on trade relations and industry stability, just as they were beginning to recover post-CUSMA negotiations.
It's extremely worrisome. It's difficult to peg an exact monetary value on it. I would say at this point I think we've already expected a 25 per cent drop in sales from orders that have fallen through.
I'm predicting that the amount of business that we'll end up losing and the impact on our business will only increase as the days go along unless we're able to find some creative solutions to manage it.
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