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flag A U.S. 50% tariff on Canadian steel since June 2025 slashed trade, cost Algoma Steel $364.7M, and forced major layoffs and plant closures.

flag A 50% U.S. tariff on Canadian steel, imposed in June 2025, has severely disrupted cross-border trade, halving Canadian steel shipments to the U.S. and triggering a $364.7 million net loss at Algoma Steel in Q4 2025, with $60.6 million in direct tariff costs. flag The company is restructuring, shutting blast furnace operations, shifting to electric arc furnace production, and cutting about 1,000 jobs. flag Despite a strategic pivot to domestic high-quality steel for infrastructure and defense, weak demand is expected to keep first-quarter 2026 shipments low. flag Industry leaders urge stable, tariff-free trade through upcoming CUSMA negotiations.

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