Algoma Steel resets business around Canada as tariffs shut door to US

Algoma Steel said the Section 232 tariff shock continues to shape its business model. The 50% US duty effectively shut the company out of its largest export market, forcing a structural pivot toward Canada.

CEO Rajat Marwah called the tariff “the defining challenge for our industry.” He noted the measure “fundamentally broke a cross-border business model that Canadian producers, including Algoma, had built over decades.”

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.