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

Reuters
2025.09.29 12:30
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OTTAWA, Sept 26 (Reuters) - Canada’s government announced a C$400 million ($287.13 million) financial support for Algoma Steel (ASTL.TO) 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)

OTTAWA, Sept 26 (Reuters) - Canada’s government announced a C$400 million ($287.13 million) financial support for Algoma Steel (ASTL.TO) 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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