The largest employer in the northern Ontario city of Sault Ste. Marie is getting half a billion dollars in government loans to maintain its workforce in the face of U.S. tariffs.

Federal Jobs Minister Patty Hadju made the announcement at the steel mill on Monday morning.

The federal government has entered into a "term sheet" through its "large enterprise tariff loan" to provide Algoma Steel with a $400-million loan, and the Ontario government has agreed to provide $100 million under the same terms.

A release from Ottawa says the funding is to allow the plant to "continue operations, transition to a business model less reliant on the United States and limit disruption to its workforce."

Algoma Steel applies for $500M federal loan as it faces U.S. tariffs

The loan is a part of a $10-bil

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