09:56:48 EDT Wed 26 Aug 2026
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 105,661,468
Close 2026-08-25 C$ 5.51
Market Cap C$ 582,194,689
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Globe says Algoma Steel hears 50% duty to hit consumers

2026-08-26 07:28 ET - In the News

The Globe and Mail reports in its Wednesday edition that despite the announcement of a $7.5-billion support package for businesses and workers, there's no doubt that Canadian consumers will feel the impacts of U.S. countertariffs. The Globe's Jason Kirby and Dexter McMillan write that importers will inevitably pass some of their tariff costs on to their customers. Tariffs will reduce U.S. imports, decreasing competition and giving domestic companies greater pricing power. Countertariffs on industrial products like steel and networking equipment represent the largest dollar values, but duties on consumer items, such as golf clubs, hair care products, video game consoles, clothing and furniture, will affect Canadians more directly. Canada's retaliation list includes higher tariffs on existing products and goods that currently enter duty-free. A significant aspect is the increase in tariffs on steel and aluminum, raising them from 25 per cent to 50 per cent. But many other items are being hit by duties for the first time, and the tariff costs are significant. Canada's 2025 imports of $920-million worth of networking equipment, such as routers and switches, would incur a $460-million duty charge.

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