The National Telegraph - Wyatt Claypool - Liberal Lie BLOWS UP In their Faces - Stelco CEO Fires Back on Carney!

00:00:00.000 In the least shocking piece of news of the day, a federal liberal politician was caught lying.

00:00:06.240 In this case, industry minister Melanie Jolie, who a few days ago tried to throw Stelco Steel under the bus

00:00:13.240 after they had to lay off 500 employees in the midst of the trade conflict with the Americans. 0.64

00:00:19.000 In this clip, she tries to pretend like they're at fault for the layoffs and they're breaking their commitment somehow, 0.96

00:00:25.660 but with the information that came out after this she just looks like a blatant liar and a bully 0.99

00:00:32.740 she is simply trying to basically make them take the hit for bad liberal policy check out this 0.95

00:00:39.120 video then we're going to get to some other ones afterwards understand in the case of Stelco is

00:00:44.920 that the company committed to keep the same amount of jobs uh and the circumstances that

00:00:51.340 the circumstances that we are seeing right now, which is basically the fact that there is an

00:00:58.640 entire trade war against steelworkers cannot be used against these commitments. And at the same

00:01:06.440 time, the CEO of Cleveland Cliffs that owns Ducco has clearly said that he's in favor of these US

00:01:15.880 tariffs against your workers yeah what a great strategy here say that well it doesn't matter

00:01:21.660 what changes on the ground you cannot fire any employees based on the canada investment act

00:01:27.360 and also if you complain you're a dirty american trader and i can't believe we ever worked with you

00:01:34.100 in the first place it's like um maybe we could actually try and get to a trade deal or the 0.56

00:01:39.960 liberals could reverse some of their awful domestic domestic economic policies and things

00:01:44.820 would be better but instead you just have to deal with it all but let's get to the rest of this and

00:01:49.160 then i want to jump to some interviews and so they cannot say that this is now uh act of god

00:01:55.900 or force majeure and basically say that now they cannot commit and what is the number of jobs you

00:02:02.200 expect them to retain in canada and what response have you heard so far i expect them to keep the

00:02:06.420 jobs period and what's that number uh the number is actually uh more than uh a thousand five hundred

00:02:13.200 so basically we'll provide you the details but right now uh what is uh affected is uh 500 jobs

00:02:20.120 and so by the way and this is not a legally enforceable commitment you cannot lock a company

00:02:27.260 in to never being able to lay off anybody whether the production of the those workers is actually

00:02:33.200 needed or not uh no no matter what happens on the ground that's absurd it's asinine who would ever

00:02:40.820 invest in Canada if you had to sign commitments where you have to employ, let's say, 700 people

00:02:46.440 and you can never fire anybody. Yes, if the industry slumps or something in the world

00:02:51.840 happens that completely undermines your production, well, that's tough toenails. You have to keep

00:02:56.900 paying those 700 people. That's basically what the government is trying to get away with here,

00:03:01.420 which would never hold up in court. I want to jump over now to a clip of the amazing Mark Warner

00:03:07.560 on the cbc trying to explain this to the host that in fact this is terrible economic policy

00:03:14.760 trying to basically strong arm companies into staying in the economy just because you know

00:03:21.200 there's nothing actually keeping them there in terms of like in terms of like like good economic

00:03:27.240 policies or opportunities we simply bring you in and then we try and lock you in forever uh this

00:03:32.680 is the more cut down clip I wanted to get to. I didn't need the full 10 minute clip there. But

00:03:38.520 anyways, also, by the way, if you haven't done it yet, make sure to leave a like on the video

00:03:41.800 and make sure to also hit subscribe if you are not yet a subscriber to the channel. We're almost

00:03:48.100 at 100,000 subscribers. But here is Mark Warner explaining the situation to the elbows up liberals

00:03:54.580 who watch the CBC. Good morning. Okay, let's start with Stelco because the company has begun

00:04:01.120 issuing layoff notices. At the same time, Industry Minister Melanie Jolie has set a deadline. She

00:04:06.400 says she wants to see a plan to keep Stelco jobs in Canada, and she wants to see that in place by

00:04:11.760 Tuesday, that plan, or the federal government, she says, could consider legal action. Mark, I'll start

00:04:16.960 with your thoughts on this, but of course, to let our viewers know that you were advising the Ontario

00:04:21.780 government on this very issue, the last time Stelco's Investment Canada commitments were before

00:04:27.940 the courts um so let's talk about what's happening now uh the ceo of stelco's current parent company

00:04:33.220 the cleveland cliffs has put the decision for layoffs on the trade war um in your opinion

00:04:39.220 could there be room for legal action in this dispute well you know what happened is when the

00:04:45.700 latest owners of stelco uh this cliff cleveland cliffs run by ceo uh mr gonzalez um bought it

00:04:53.140 they made certain commitments to the government of canada under the investment canada act

00:04:56.820 And that's what was litigated the last time around. And I guess that these commitments

00:05:00.740 that are there now would be litigated this time around. The last time around, the owners of Stelco

00:05:04.660 were then US deal. And they chose to challenge it on the charter grounds that they weren't given

00:05:11.140 enough due process in terms of pleading their case about the effects of the economic downturn

00:05:16.820 around 2008. This time around, when I listened to the CEO, he seems to be saying that what they

00:05:21.780 would really argue, what they would really argue is that this is a forced measure, that this is

00:05:25.940 is essentially a fundamental change in the economic conditions from when they negotiated

00:05:30.400 these commitments in 2024. Nobody could have predicted Donald Trump would have started the

00:05:35.080 trade war. Nobody would have predicted that Canada would have walked away from the table and that

00:05:39.200 they simply cannot produce the kind of steel that's produced in Hamilton economically. I think

00:05:43.740 it'll make an interesting argument. The Canadian government will say, no, no, but you support

00:05:47.360 Donald Trump and that sort of thing. But it doesn't strike me as a kind of case that's

00:05:51.640 open for easy and quick resolution. It seems to be something that will have to lead to either

00:05:58.080 a long lawsuit or some sort of negotiated settlement. But both sides will be, I think

00:06:03.560 this time around, they'll go to the meat of the matter, which is, is a change in the economic

00:06:08.500 conditions enough to change the conditions? Or is signing an agreement with the government of

00:06:12.560 Canada essentially a suicide pact? And I think the comments he made, sorry if it was a bit of

00:06:17.240 a longer clip but his comments there at the end were absolutely right on like really the

00:06:23.060 can investment act is now going to be a suicide pact with any company that signs on to create

00:06:28.900 jobs in canada if you get any tax break if you get any grant from the government now you must

00:06:34.800 always perpetually keep the exact same amount of people employed that you may have agreed to

00:06:39.980 10 years ago even if the economic floor has completely shifted under everyone's feet and

00:06:46.240 we're in a trade war where there's a 50% tariff on Canadian steel going to the United States,

00:06:51.940 one of the primary places for Canadian steel to go to. We send more steel, I believe, to the United

00:06:58.780 States than we actually end up using in Canada. It's our biggest market for steel. And when you

00:07:05.680 have that effectively cut off of extremely high tariff, is it reasonable to just expect the company

00:07:11.640 to just putter along producing steel at, like, below profitability margins

00:07:17.320 just in order to keep their commitments to keep people employed.

00:07:20.960 I now want to jump over, though, to the Stelco CEO going on Rosemary Barton's show today

00:07:28.660 and basically having to call complete nonsense on everything that Melanie Jolie and the Liberals have said.

00:07:36.340 Actually, before I get to that, what I want to do is show you the very limp response

00:07:40.960 response that Melanie Jolie made on Twitter yesterday, because even she knows she's in the

00:07:46.340 wrong here. Mark Warner also reacted to this. This is what Melanie Jolie put out. She says here,

00:07:54.880 here's my updated statement on Stelco after receiving a response letter. The government

00:07:59.380 of Canada continues to expect Stelco to meet its legally binding commitments to employees.

00:08:03.920 These commitments were agreed upon as undertakings under the Investment Canada Act and do not cease

00:08:08.700 applying because the changing business strategy or marketing conditions. Our own legal team review

00:08:14.260 the Stelco letter, all options are on the table. But notice that we're now just saying options are

00:08:19.520 on the table. We still expect them. We still expect Stelco to meet its legally binding commitments,

00:08:25.020 but they don't actually want to take them to court because a lot of this would either not hold up,

00:08:28.940 or if it did, it would take years to actually get them to have to comply because this is

00:08:35.580 an incredibly complicated case. And the best thing Canada could do is trying to improve market

00:08:41.900 conditions by getting a trade deal signed, pushing for it, playing hardball, getting those 0.97

00:08:47.280 steel tariffs as low as possible, and reducing our own corporate taxes, our own stupid industrial

00:08:53.760 carbon taxes, and other regulations that make it more expensive to produce in Canada. If we did

00:09:00.260 that, they probably wouldn't be laying off any people. Mark Warner here responding to Melanie

00:09:04.640 jolie says one month after splashing uh splashing out for a pricey canada investment summit to

00:09:10.380 rebrand the country as open for investment the same geniuses now insist that a company has to

00:09:15.660 implement investment canada undertakings in the face of an unforeseeable trade war and can't can

00:09:21.260 canadian response to it so yeah that's not a great pitch to uh companies thinking about investing in

00:09:29.700 canada if you invest here you're basically in a shotgun marriage where you can never get out

00:09:34.900 and if everything completely changes overnight uh all the things that you thought would make

00:09:40.080 canada good investment go away well you better not you better not cut a single job or melanie

00:09:45.460 joely is going to take you to court uh check out the ceo here stelco correcting the record

00:09:50.440 on rosemary barton's show just this morning there was in the undertaking an agreement to

00:09:56.080 employ the same number of unionized and non-unionized employees when this happened.

00:10:01.340 So how is that different? Why are you now saying that you are allowed to do something that the

00:10:06.460 undertaking says that you should not be doing? Yeah, different than what happened at Algoma,

00:10:12.960 in which the reduction in jobs was permanent and disponsored and subsidized by the Canadian

00:10:22.660 taxpayer uh remember our government got 500 million dollars from uh the canadian government

00:10:30.340 and then shut down the blast for instance laid off permanently more than a thousand workers

00:10:36.100 in our case the layoffs are one temporary two they will be reversed three uh i did not accept

00:10:44.660 canadian taxpayer money to do that because that would be completely inadequate i don't so he has

00:10:51.700 is now said here, unlike Algoma, presumably another steel company that got 500 million

00:10:56.780 dollars from the government to set up shop in Canada, he's not permanently laying off

00:11:01.820 anyone. People who are being laid off by Stelco is temporary because of the current market

00:11:07.780 conditions, making it that their production is just not needed right now because you just

00:11:12.840 cannot make steel and ship it to the United States at the moment, which was kind of the

00:11:17.720 whole point of the steel company. Produce cheaper steel in Canada and then ship it to the United

00:11:22.980 States. If that steel is now absurdly expensive because of the tariff rate, what are we supposed

00:11:28.440 to do? Just keep producing the same amount of steel no matter what's going on? Keeping people

00:11:33.920 employed to sit around? Like again, and they haven't even gotten major government subsidies.

00:11:39.240 I agree with that. I don't want to do that. There's no provision in the contract that I have to keep

00:11:48.080 employment at a certain level every single day of the five years. If that was an imposition

00:11:55.920 of the Canadian government, I would not have accepted. The undertakers are not

00:12:00.800 decrees, are not imposed to the buyer. This is a contract. I only invested $3.4 billion

00:12:08.080 dollars because to buy stelco because i believe that canada is a country of loss and there's no

00:12:15.540 provision in the contract that forced me to have the same employment level every single day i am

00:12:23.620 in favor of tariffs against all the countries in the entire world that dump steel into the united

00:12:31.180 of states so going into this he is saying that this is complete nonsense for melanie joe lee

00:12:38.020 and the carny liberals there is no provision in anything that stelco has ever signed that

00:12:42.640 actually permits a certain amount of employees have to be kept at any time to within their

00:12:49.260 commitments to the canadian government through the canon investment act none none at all so

00:12:54.780 that's complete nonsense then he's going to go here saying that he does in fact support the

00:12:58.580 tariffs on steel dumping in the united states but remember though the problem he is highlighting

00:13:05.140 is that it's not that canadian steel is being dumped into the united states the whole concept

00:13:10.880 of dumping a product is the idea that a country has way too much of it and they're just going to

00:13:16.680 basically throw it at a country maybe not even making any money but just to get rid of it that 0.89

00:13:21.180 ends up undermining the price china does this deliberately many times where they will basically 0.95

00:13:25.820 crash a local economy by oversupplying it with a specific good to the point where it's not even 0.86

00:13:30.560 economical for them it undermines the industry and then they can raise prices back up once they've

00:13:35.700 basically dominated it and china currently dumps steel in canada and that means a lot of steel that

00:13:41.820 goes to the united states without the tariffs in place to block it ends up being chinese steel

00:13:46.880 that's being pushed over the canadian border into the united states but i'll let him go on that line

00:13:52.600 here? Because President Trump implemented in the United States Section 232 steel tariffs based on

00:14:01.600 national security, we finally have the American steel industry back. We are now the third largest

00:14:08.100 producing steel country in the world. And we are fourth for a long, long time. So things are getting

00:14:15.120 much better in the United States. So I'm in favor of Section 232 tariffs, no doubt about. But I am

00:14:21.660 with the same position of Minister Dominique LeBlanc.

00:14:28.820 We need to negotiate a separate situation

00:14:32.140 between the United States and Canada.

00:14:34.100 That has been my position all along.

00:14:36.100 What would you say to the workers

00:14:37.740 who believe that you've let them down

00:14:41.300 and that you didn't keep up your end of the deal?

00:14:43.860 What a lame response from Rosemary Barton.

00:14:47.460 What deal?

00:14:48.460 He just said there was no deal to keep people employed.

00:14:51.660 What, is he going to never lay off a single worker no matter what happens? 1.00

00:14:55.820 That's stupid, and it doesn't answer what he's saying. 1.00

00:14:58.740 He is showing that the liberals are liars. 1.00

00:15:01.560 They lied about all this, and, in fact, that Canada and the United States should have a deal to trade steel back and forth,

00:15:09.840 but there needs to be provisions in place for national security reasons to not let countries like China dump steel into North America.

00:15:17.140 I believe that they are being played. I believe that having the Prime Minister of Canada,

00:15:25.700 a person that I have never met, say that I betrayed my employees, this is not true.

00:15:32.060 This was Prime Minister Carney repeating what Minister Jolie said without thinking.

00:15:38.920 He's a busy guy. Pay attention to what Minister LeBlanc is doing.

00:15:43.040 don't pay attention to the the the the rhetoric of people that are just playing politics we have

00:15:49.760 a much bigger task at hand and you are going to be brought back happy thanksgiving this is the

00:15:55.120 last thanksgiving that you are out of a job you are going to be brought back i i love that response

00:16:01.100 there where he kind of saves mark carney a little bit by just saying he must be just repeating the 0.97

00:16:05.600 stupid things melanie jolie is saying and he's right like she had nothing that's why when she 0.94

00:16:10.680 released that like three-line letter she's like i i hope they stick to their commitments and 0.99

00:16:14.820 everything's on the table it's like so you're not going to sue on tuesday because you didn't

00:16:19.280 recommit to suing on tuesday which is what you said you were going to do and as mark warner says

00:16:23.640 a trade lawyer you're going to be dragging this out for years to get them to try and meet a

00:16:29.660 commitment that probably isn't actually in any contract and also would immediately scare away

00:16:35.140 other investment from canada if people believe like mark warner says it's a suicide pact if

00:16:40.120 you're in the canadian economy and if you're a company that lays off a single employee and you've

00:16:44.580 ever taken the smallest of grant or tax break the canadian government's going to come down on you

00:16:49.480 like a 1200 pound gorilla and say that you're going to basically be sued into the floor unless

00:16:54.560 you keep your employment exactly as they say that's just called socialistic economics yes it's

00:16:59.920 a private firm it's a private corporation but unless you do exactly what the government says

00:17:05.340 produces the right amount of goods at the right price with a certain number of employees at a

00:17:10.700 certain salary, then you cannot operate and we will attack your business. It's so stupid. 1.00

00:17:17.480 I just want to bring up this one last little comment because I really liked what Mark Warner 1.00

00:17:22.780 was saying on Twitter yesterday. And so Mark Warner ended up highlighting this comment that

00:17:30.200 the Stelco CEO made last night in a statement. It says, quote, your representation that Stelco's

00:17:36.660 planned layoffs caused it to breach its undertaking is false. The undertakings do not stipulate a

00:17:41.780 commitment to avoid layoffs, nor do they include a requirement that employment levels be above a

00:17:46.180 certain amount on each day of the five years. So yeah, the liberals messed up and they're trying

00:17:51.200 to all buy it back now. And the funny thing is that no doubt this is precipitating the liberals

00:17:56.700 trying to go back to Trump and like beg for a trade deal. I'm never trying to present this like

00:18:01.740 Trump's the most reasonable man on the planet. Definitely not. We've all seen Trump. But the

00:18:05.800 thing is that the carny liberals have been playing their cards so wrong on all this,

00:18:09.780 you are never going to force Trump and the Americans to the trade negotiating table.

00:18:14.000 And it's not a Trump thing. If Biden were the president, you would also be having him basically

00:18:18.780 take the same stance as Trump. Not maybe in the most dramatic, he wouldn't be as maybe dramatic

00:18:24.720 with his tariff rates and whatnot, but that's Trump. He's very hyperbolic. But Carney's sort

00:18:30.100 of contention that, oh, you can't trust Trump, and he writes everything in pencil and not pen,

00:18:34.540 and I'm walking away from this table because I don't like how the trade negotiations are going.

00:18:39.380 It's like, okay, it's great for politics. It's great for his poll numbers, but can we get a

00:18:44.860 trade deal at some point? Can we actually get lower tariffs? The things that Carney walked

00:18:49.880 away from the trade negotiating table over in this last round were stupid he got mad about the 0.98

00:18:55.840 china thing that america doesn't want us trading with china as much the country carney says is our 0.98

00:19:00.800 biggest national security threat he's angry at trump for not wanting him to trade as much with

00:19:05.480 them he's mad at trump for not wanting to have to pay for all the quebec language policies and

00:19:11.400 doesn't like the censorship policies of the carney liberals as well as the whole thing around uh like

00:19:18.700 supply management gets his goat. It's like, okay, let's ruin the economy because of very small

00:19:25.280 interest group policies. Yeah, that's a good idea. Let's have very high tariffs that are causing us

00:19:31.420 to lose hundreds of thousands of jobs because we don't want to get rid of Bill C-11, the Canadian

00:19:37.840 Streaming Act. Wow. Anyways, with all that being said, thank you guys for watching. Have a great

00:19:44.540 Thanksgiving. Make sure to like, share, subscribe, and I'll see you all next time.

The National Telegraph - Wyatt Claypool - October 11, 2026

Liberal Lie BLOWS UP In their Faces - Stelco CEO Fires Back on Carney!

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