Economist and small-business advocate Catherine Swift joins Stephen LeDrew to discuss the latest trouble facing Canada’s steel industry after Stelco announced layoffs affecting up to 500 workers.
While Stelco has cited U.S. tariffs, weakened demand and import pressures, Swift argues that Canadians also need to look at global steel overcapacity and competition from heavily subsidized Chinese production.
LeDrew and Swift discuss whether Canada’s trade protections are strong enough, why cheap imports can put domestic manufacturers under enormous pressure and whether Ottawa is too quick to blame Donald Trump for economic problems that have deeper causes.
Swift’s argument: Canada cannot protect jobs simply by pointing at Washington. It also has to examine its own trade, industrial and economic policies.
This is the first Three Minutes. Become a member to watch the full 10-minute conversation with Catherine Swift on small business, Canada’s slowing economy, productivity, the dollar and why she believes domestic policy is doing serious damage.