Algoma Steel will lay off 1,000 employees due to US tariffs

According to a statement from the company, the closure of the blast furnace and coke plant operations at the Sault Ste. Marie facility is being carried out to adapt to a “fundamentally changed competitive environment.” Algoma Steel stated that the “unprecedented tariffs” imposed by the US have had a serious impact on the company and have significantly limited its access to the US market.

The company's statement said, “The closure of the facility and layoffs are a necessary decision due to extraordinary and external market conditions.” It was reported that the layoff decision will take effect 16 weeks later, on March 23, 2026.

Algoma Steel's announcement once again highlighted the pressure that US tariffs continue to exert on the steel industry and the need for companies to undergo strategic restructuring.