U.S. tariffs on Canadian steel and aluminum have severely impacted Conquest Steel, with managing director Rahim Moloo reporting a 20% loss in business prior to the tariffs officially taking effect. The anticipation of tariffs caused American customers to cancel orders, leading to inventory issues and hesitation among Canadian distributors. Moloo noted that the tariffs would create ripple effects throughout the supply chain, affecting various sectors. He expressed support for retaliatory measures taken by the Canadian government but emphasized that businesses must adapt to a new operational landscape due to these tariffs.
"The threat of the tariffs was enough to damage our business and we felt the consequences immediately," says Rahim Moloo, managing director of Conquest Steel.
Moloo says it lost roughly 20 percent of its business when U.S. President Donald Trump began musing about stiff tariffs on Canadian exports.
"So there's a lot of trickle down to all sectors of the economy," he told host David Common.
"It will be a very different way of conducting business moving forward," he added, highlighting the need for adaptation amid the tariffs.
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