Rolled coils of steel sit in the yard at Algoma Steel Inc., the second largest steel producer in Canada, along the St. Marys River in Sault Ste. Marie, Ont. Photo by THE CANADIAN PRESS/Nick Iwanyshyn

Canadian steelmaker Algoma Steel Group Inc. will get the $500 million in financial help it asked for as it grapples with the 50 per cent steel tariffs i mposed by United States President Donald Trump.

The Canadian government will provide a $400 million loan through the Large Enterprise Tariff Loan facility to the Sault Ste. Marie, Ontario-based company, and the Ontario government will lend an additional $100 million.

The financial aid will help Algoma Steel “continue operations, transition to a business model less reliant on the United States, and limit disruption to its workforce,” t

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