Algoma Steel getting $500M in government loans to shift production from U.S.

OTTAWA — 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.
The federal government said in a statement the impact of U.S. tariffs on the steel sector is "profound."
O