Canada announces C$400 mln financial aid for Algoma Steel as tariffs hit

Reuters

2025/09/29

OTTAWA, Sept 26 (Reuters) - Canada's government announced a C$400 million ($287.13 million) financial support for Algoma Steel under its large enterprise tariff relief scheme, Jobs Minister Patty Hajdu said on Monday.
The loan will "help Algoma Steel Inc. continue operations, transition to a business model less reliant on the United States, and limit disruption to its workforce," the government said in a statement.
The government of the province of Ontario will also provide a support of C$100 million, it said.

($1 = 1.3931 Canadian dollars)

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