A sign for Algoma Steel Inc., the second largest steel producer in Canada, seen in Sault Ste. Marie, Ont., on July 25, 2025. The Canadian Press/Nick Iwanyshyn
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Ontario-based Algoma Steel Group Inc. will receive $500 million in federal and provincial loan assistance to help reorient its business to cope with the impact of U.S. tariffs.
Ottawa’s $400 million in financial assistance will come from the Large Enterprise Tariff Loan program. The Ontario government will also provide $100 million to the Sault Ste. Marie, Ont.-based company.
