06:05:29 EDT Mon 07 Jul 2025
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 104,883,802
Close 2025-04-02 C$ 8.03
Market Cap C$ 842,216,930
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Globe says Algoma Steel won't get hit with new taxes

2025-04-03 08:37 ET - In the News

The Globe and Mail reports in its Thursday edition that much of Canada's mining sector is breathing easier, after U.S. President Donald Trump largely spared it from new reciprocal tariffs, while the domestic steel and aluminum industries continue to face his wrath. The Globe's Niall McGee writes that Mr. Trump on Wednesday signed an executive order that will levy 25-per-cent tariffs on Canadian imports that are not compliant with the U.S.-Mexico-Canada agreement. Energy, potash and U.S. classified critical minerals imports that do not comply will be subject to a 10-per-cent levy. Apart from the auto sector much of the Canadian economy was exempt from a massive new round of international reciprocal tariffs. "We're relieved that the tariffs did not stack," said Michael Garcia, chief executive officer of Algoma Steel Group in Sault Ste. Marie, Ont. With some clarity for the immediate future, Mr. Garcia wants the Canadian government to double down on its efforts to campaign for the removal of existing steel tariffs. In the meantime, Algoma, which is Canada's last remaining independent steelmaker, is pushing to win more business in its home market. It currently sends about half of the steel it produces to the U.S. market.

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