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Kontrol Energy Corp (C:KNR)

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Sam Dan Member Level  Monday, 03/12/18 01:04:26 PM
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Kontrol Energy Corp (C:KNR)
Shares Issued 26,426,141
Last Close 3/9/2018 $0.85
Monday March 12 2018 - In the News

The Globe and Mail reports in its Monday, March 12, edition that chief executive officer Linda Hasenfratz says President Donald Trump's tariffs on aluminum and steel will benefit the construction equipment business of Linamar, in a way that hurts the United States. The Globe's Greg Keenan writes that Linamar's Skyjack business uses Canadian steel, so it will have an advantage over U.S. rivals that will face price increases on U.S. steel as the tariff causes prices of domestic steel to rise also. Ms. Hasenfratz says: "What the President is doing is disadvantaging his own manufacturing companies. It's almost [incentivizing] you to manufacture outside of the U.S. and buy your raw materials outside of the U.S." The Washington-based Council on Foreign Relations' analysis of the tariffs show they will wipe out an estimated 40,000 auto industry jobs. Zekelman Industries CEO Barry Zekelman says those concerns are overblown and consumers can easily absorb the impact of higher steel prices. Low prices have "become like crack cocaine to them," he says. Canada should join hands with Mr. Trump, he says, by blocking cheap offshore imports so they do not find their way into the U.S. market.


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