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Algoma Steel Group Inc
Symbol ASTL
Shares Issued 104,933,802
Close 2025-12-24 C$ 5.72
Market Cap C$ 600,221,347
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Globe says Algoma Steel hit by the Cheeto Benito

2025-12-29 06:50 ET - In the News

The Globe and Mail reports in its Saturday edition that a lot typically has to go wrong to bring about the downfall of a multibillion-dollar company: strategic missteps, obsolescence, the business cycle, bad luck -- that kind of thing. The Globe's Tim Shufelt writes that in the case of Algoma Steel Group, the culprit is one belligerent man in orange makeup and a Brioni suit. When Donald Trump slapped 50-per-cent tariffs on imported steel on the dubious basis of national security, he set the stage for the collapse of Canada's last remaining independent steelmaker. The company is now fighting for its survival by reorienting its business toward Canadian customers, while staying afloat with several hundred million dollars in government loans. With any luck, Algoma will be around to support the nation-building projects now taking shape, no thanks to Mr. Trump. There are those who say he did us a favour by shaking Canada from its complacency. That is like thanking your spouse for cheating on you because your home life had gotten a little too stable and secure. The only salute Canadians owe Mr. Trump is the middle finger.

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