Ontario-based Algoma Steel Group Inc. will obtain $500 million in federal and provincial mortgage help to assist take care of the affect of U.S. tariffs.
Ottawa says its $400 million in monetary help will come from the Large Enterprise Tariff Loan program.
Get day by day National information
Get the day’s high information, political, financial, and present affairs headlines, delivered to your inbox as soon as a day.
The Ontario authorities may also present $100 million to the Sault Ste. Marie, Ont.-based firm.
The federal authorities says the affect of U.S. tariffs on the metal sector is “profound.”
Ottawa launched the $10-billion financing program in March to assist firms affected by tariffs.
The loans are to assist Algoma Steel proceed operations, restrict disruption to its workforce and transfer to a enterprise mannequin that isn’t as reliant on the U.S.
© 2025 The Canadian Press
