By Paul Vieira

OTTAWA--Algoma Steel said it would eliminate about 1,000 jobs, or about a third of its workforce, as the company shuts down production from its blast furnace and coke ovens that became financially unsustainable with hefty U.S. tariffs.

The steel maker, based in Sault Ste. Marie, Ontario, said the job losses would take effect in 16 weeks, or late March. This represents one of the biggest employment hits to date for Canada from the shift in U.S. trade policy under President Trump.

Canada is the largest foreign provider of steel to the U.S. market, and Canadian products entering the U.S. face a 50% tariff.

The job cuts are necessary "to protect Algoma's future in the face of these extraordinary and external market forces," said Laura Devoni, Algoma's vice president of human resources and corporate affairs. "We will continue to advocate for a competitive and fair trading environment for Canadian steel."

Last week, Canada said it would further tighten limits on imported steel to try to soften the blow for the domestic industry.

According to securities filings, Algoma employs about 2,800 workers.

Shares of Algoma fell 6.6% in trading Monday on the Toronto stock market.

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

December 01, 2025 15:42 ET (20:42 GMT)

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