Algoma Steel in Sault Ste. Marie attributes growing losses to U.S. tariffs

The head of Algoma Steel in Sault Ste. Marie says U.S. tariffs on steel imports continue to dictate how they operate, as the company’s net loss widened during its latest quarter.

Algoma’s CEO says the company incurred $27.4 million in direct tariff costs during its quarter that ended March 31.

Which is lower when compared quarter-over-quarter because the steel producer continues to reduce shipments to the U.S.

Algoma says shipments were down 52.4 per cent year-over-year.

It also reported a wider net loss of $159.4 million, compared with a net loss of $24.5 million during the same period a year earlier.

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