Canadian steel producers are being forced to adjust their operations due to the 50% US import tariff on steel.

Algoma Steel Inc. has decided to close its blast furnaces and coke ovens ahead of schedule, adjust its business strategy, focus on the Canadian market, and secure sufficient financial resources to implement the transformation. The company will focus on rolled and heat-treated plate products, as well as some coil products for the domestic market.

Algoma Steel is also actively exploring product diversification initiatives to expand its business and support Canadian industrial policy.

Before the implementation of the high US tariffs, over 60% of Algoma Steel's revenue came from US customers. According to the company's recent financial report, the total direct tariffs in 2025 amount to C$225 million, with shipments to the US accounting for approximately 51% of total steel shipments.