Algoma Steel asks Ottawa for $500M over U.S. tariff uncertainty
By Staff
The Canadian Press
Posted July 24, 2025 9:23 am
1 min read
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Algoma Steel says it is seeking $500 million in federal support as the company faces continued uncertainty from U.S. tariffs on Canadian steel.
The Sault Ste. Marie, Ont.-based steel producer says it applied for the funding under the Large Enterprise Tariff Loan program, announced by Ottawa in March to support companies affected by tariffs and countermeasures.The company says in a press release it remains concerned with the “significant impact” that U.S. tariffs are having on its operations and outlook. In...