Stelco Holdings says it will idle finishing operations at its Hamilton Works facility, a move it says will affect 500 employees. In a statement issued Monday afternoon, the company cites “continued market uncertainty” and “prolonged injury” to its business, which it links largely to steel imports. The company says the layoffs are tied to operational changes at the plant.

The union representing workers puts more emphasis on trade policy. Global News reports the union says Stelco told them that ongoing U.S. tariffs on steel are a key driver of the decision to idle the plant. While both sides refer to economic pressure affecting the steel business, they differ in the emphasis placed on the role of tariffs versus broader market conditions and import-related impacts.