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Algoma Steel Announces Over 1,000 Layoffs Amid Tariffs and Transition

  Reeling from high tariffs imposed by U.S. President Donald Trump, Algoma Steel confirmed Monday it has issued layoff notices to about 1,000 workers.  Algoma Steel, a major employer in Sault Ste. Marie, Ontario, has confirmed plans to lay off more than 1,000 workers in the coming months. The company issued 1,050 layoff notices as part of its decision to shut down its blast furnace and coke oven operations, accelerating its transition to electric arc furnace (EAF) technology. The layoffs, expected to take effect by March 23, 2026 , come as Algoma faces mounting financial pressures. The company reported nearly half a billion dollars in losses last quarter and cited “unprecedented tariffs” imposed by the United States as a key factor in reshaping its competitive landscape. Union leaders from United Steelworkers Locals 2724 and 2251 confirmed the layoffs, noting that while the workforce had anticipated job reductions tied to the EAF transition, the U.S. tariffs accelerated ...
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Gas Prices Sink in Canada as Expert Calls for a Month of Falling Prices




Gas prices could continue falling for at least a month, according to one U.S. analyst. Tom Kloza, global head of energy analysis at OPIS, is calling for average prices south of the border to dip below US$3 per gallon. 

Canadian gas prices fell by 3.3 cents per litre to $1.429 for the seven days ended Dec. 7. The falling price of oil continues to weigh on fuel for consumers, according to Andy Lipow, president of Lipow Oil Associates. At the same time, this week’s U.S. gasoline inventory data showed stockpiles swelled by five million barrels last week.


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