06:14:51 EDT Mon 07 Jul 2025
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 104,883,802
Close 2025-02-10 C$ 11.73
Market Cap C$ 1,230,286,997
Recent Sedar Documents

Globe says Algoma Steel braces for Trump's 25% tariffs

2025-02-11 07:37 ET - In the News

The Globe and Mail reports in its Tuesday edition that U.S. President Donald Trump has announced 25-per-cent tariffs on all steel and aluminum imports, including from Canada, reigniting a trade conflict that could have serious consequences for Canada's export-oriented metal producers. The Globe's Mark Rendell and Steven Chase write that Mr. Trump's orders reinstate the tariffs he put in place on millions of tonnes of steel and aluminum imports during his first presidency, with a higher 25-per-cent levy on aluminum this time around. The tariffs will come into effect on March 4. "It's 25 per cent without exceptions or exemptions, and that's all countries, no matter where it comes from," Mr. Trump told reporters on Monday as he signed the executive orders in the White House. "We don't need it from another country. As an example, Canada. If we make it in the United States, we don't need it to be made in Canada. We'll have the jobs. That's why Canada should be our 51st state." Ottawa declined to immediately announce retaliatory tariffs on American goods on Monday. Our steel industry is particularly captive to the U.S. market and low-cost Chinese steel has flooded global markets, making alternative foreign sales difficult.

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