Due to the impact of US tariffs, major Canadian steelmakers will lay off a thousand people

Due to the huge financial pressure brought about by the high tariffs imposed by the United States, Argoma Steel Limited, one of the largest steel producers in Canada, has confirmed that it will lay off about 1,000 employees.

Xinhua News Agency reported that the headquarters of Algoma Steel is located in Sauss-Marie, Ontario, and it currently has approximately 2,700 employees. The number of layoffs this time exceeds one third of its total staff.

Argoma Steel issued a statement saying that the 50% tariff imposed by the United States "fundamentally changed the competitive landscape" and severely restricted its access to the US market. The layoff plan will take effect on March 23, 2026.

In September this year, Argoma Steel received a loan of 500 million Canadian dollars from the federal and provincial governments to cope with the impact of tariffs.

Ontario trade officials have called on the Canadian federal government to expedite the procurement process and use steel pipes, critical infrastructure, ships and other defense equipment produced in Ontario.

Algoma Steel Ltd. is a leading producer of cold and hot-rolled steel plates in Canada, with its main customers in the United States.