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Canada: Hit hard by trade war, Algoma Steel issues 1,000 layoff notices
Reeling from high tariffs imposed by U.S. President Donald Trump, Algoma Steel confirmed Monday it has issued layoff notices to about 1,000 workers. The company, based in Sault Ste. Marie, Ont., employs about 2,700 people. With its major buyers in the United States, the company was hit hard by the 50 per cent tariffs imposed last summer by Trump. “The North American steel market is highly integrated, and Algoma Steel has been significantly impacted by the unprecedented tariffs imposed by the United States,” Algoma Steel spokesperson Laura Devoni said in an email. “These tariffs have fundamentally altered the ... (full story)
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- Dec 1, 2025 11:29pm Posted byFundamental Analysis177
