06:29:21 EDT Mon 07 Jul 2025
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 104,858,802
Close 2025-02-07 C$ 11.92
Market Cap C$ 1,249,916,920
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Globe says Algoma Steel warned on tariff "doomsday"

2025-02-07 08:05 ET - In the News

The Globe and Mail reports in its Friday edition that the threat of U.S. tariffs is firing up a brand of Canadian resource nationalism not seen in decades, inspiring a rallying call for this country to build more of its own energy, power and mining infrastructure. A four-bylined item led by Niall McGee says that executing on that plan will be no easy feat. U.S. President Donald Trump earlier this week backed off from immediately imposing tariffs on Canadian imports, but the risk remains high that he will follow through after a 30-day reprieve runs out. Canada's resource sector is looking to diversify away from the United States. Premier David Eby, meantime, is already fast-tracking the permitting of resource projects, as he presses an agenda aimed at pivoting British Columbia's resource-heavy economy away from the U.S. Canada's iron and steel industry is the single biggest part of Canada's minerals and metals export trade with the United States, accounting for $20-billion in 2023. Ninety-nine per cent of Canada's steel exports go to the U.S., and Francois Desmarais at the Canadian Steel Producers Association, said if Mr. Trump imposes the tariffs, it would result in a "doomsday" scenario for the industry.

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