09:45:31 EDT Thu 03 Jul 2025
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 104,933,802
Close 2025-06-02 C$ 6.76
Market Cap C$ 709,352,502
Recent Sedar Documents

Globe/AP say Algoma Steel told Trump tax doubles to 50%

2025-06-02 08:43 ET - In the News

The Globe and Mail reports in its Saturday edition that President Donald Trump said on Friday that he will double the tariffs on steel imports into the United States to 50 per cent. An Associated Press dispatch to The Globe quotes Mr. Trump in a Pittsburgh rally: "We are going to bring it from 25 per cent to 50 per cent -- the tariffs on steel into the United States of America -- which will even further secure the steel industry in the United States. Nobody is going to get around that." The tariffs will be doubled on both steel and aluminum beginning Wednesday, Mr. Trump later wrote on his Truth Social network. "Our steel and aluminum industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers," he wrote. In March, Mr. Trump put 25-per-cent tariffs on all steel and aluminum imports to the United States, including from Canada. The President's strategy is to bring manufacturing back to the U.S. Canada is the largest steel supplier to the United States, accounting for nearly 25 per cent of all imports in 2023. About a quarter of all steel used in the U.S. is imported. Steel prices have climbed 16 per cent since Mr. Trump became President.

© 2025 Canjex Publishing Ltd. All rights reserved.