Algoma Steel, one of Canada’s largest steel producers, announced plans this week to lay off 1,000 workers—over a third of its workforce—by March 2026. The Ontario-based company blamed "unprecedented" U.S. tariffs for slashing its access to the American market, calling the move a "painful but necessary" step. 💔
Why Now?
The layoffs come after the U.S. imposed 50% tariffs on Canadian steel, which Algoma says has "fundamentally altered" competition. Despite receiving CA$500 million in federal and provincial loans this September to weather the storm, the 2,700-employee firm says the financial pressure is too steep. 📉
Workers in the Crossfire
Ontario’s government is launching a retraining program for affected workers, while Economic Development Minister Vic Fedeli urged Ottawa to prioritize locally made steel in infrastructure projects. "We need pipelines, ships, and defense equipment built with Ontario steel," he said. 🛠️
With the layoffs set to take effect next year, tensions over U.S.-Canada trade policies are heating up—and blue-collar workers are paying the price. 🔥
