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Algoma Steel Secures $500 Million for Stability Amid Tariffs

9/29/2025

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Summary

Story summary

Algoma Steel Inc. will receive $500 million in loans from the federal government and Ontario to counter tariffs and stabilize operations.
The federal government provides $400 million via the Large Enterprise Tariff Loan program; Ontario adds $100 million.
Federal Minister Patty Hajdu says Algoma is essential to Canada's security and supply; Michael Garcia remains confident.

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Story summary

Algoma Steel Inc. will receive $500 million in loans from the federal government and Ontario to counter tariffs and stabilize operations.
The federal government provides $400 million via the Large Enterprise Tariff Loan program; Ontario adds $100 million.
Federal Minister Patty Hajdu says Algoma is essential to Canada's security and supply; Michael Garcia remains confident.