Canadian Company Announces Mass Layoffs Over US Tariff 'Nuclear Bomb'
Paperboard manufacturer RYAM has confirmed it is closing its Témiscaming facility as a result of U.S. tariffs.
A Canadian paperboard manufacturer, RYAM, is set to permanently shut down its facility in Témiscaming, Quebec, with the loss of 425 jobs, following a decision driven by the escalating tariff dispute between the United States and Canada. The closure, scheduled for September 15, is attributed to the tariffs imposed by the U.S., which have rendered the plant's operations economically unsustainable.
RYAM's spokesperson stated that despite their efforts to adapt to the new tariffs, the company can no longer operate the site under sustainable conditions. Témiscaming Mayor Alain Gauthier, a former RYAM employee, likened the tariffs to a "nuclear bomb" for sectors reliant on U.S. markets, describing the situation as an "economic war."
The tariff dispute intensified after the Trump administration imposed duties of up to 50 percent on $27.6 billion worth of Canadian goods on August 22, targeting a range of products including agricultural goods, manufactured items, and consumer goods. Canadian Prime Minister Mark Carney suspended trade negotiations, citing that the U.S. terms were not in Canada's best interests and announced a dollar-for-dollar response.
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