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Algoma Steel asks Ottawa for $500M over U.S. tariff uncertainty

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Algoma Steel says it is seeking $500 million in federal support as the company faces continued uncertainty from U.S. tariffs on Canadian steel.

The Sault Ste. Marie, Ont.-based steel producer says it applied for the funding under the Large Enterprise Tariff Loan program, announced by Ottawa in March to support companies affected by tariffs and countermeasures.

The company says in a press release it remains concerned with the “significant impact” that U.S. tariffs are having on its operations and outlook. In June, U.S. President Donald Trump signed an executive order doubling his country’s tariffs on steel and aluminum imports to 50 per cent.


Click to play video: 'Federal gov’t response to latest  U.S. Tariffs'


Federal gov’t response to latest U.S. Tariffs


Algoma says it has enough resources on hand to manage its liquidity over the near term, but it is considering various options to achieve support and diversify its customer base, “given the ongoing uncertainty caused by the U.S. tariffs resulting in a structural imbalance in the Canadian market.”

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That includes an evaluation of capital investments “that align with long-term domestic demand in sectors such as defence and construction, while reinforcing Canada’s industrial resilience and low-carbon transformation.”

It says the amount of additional financing it could seek will partly depend on the duration and severity of the trade dispute “and the extent to which the Canadian steel market remains exposed to unfairly priced imports.”


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Police charge driver after dramatic, armed chase in downtown Toronto – Toronto

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A man has been charged after a viral video, which appears to show him driving away from a large group of police officers telling him to stop at gunpoint, before hitting several other vehicles and ultimately being arrested.

Toronto police said it was around 1:20 a.m. on Saturday when they were called to King and Portland streets for reports of someone with a gun.

When officers arrived at the scene, they found the vehicle and, police say, they ordered the driver to turn it off.

Video footage posted online appears to show multiple Toronto officers pointing firearms into the vehicle, which is idling in the middle of the road.

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Instead of turning it off, however, police said the driver reversed, hitting a scooter and another car. He then turned, drove into an alleyway and hit another parked car.

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Alishba Zarmeen’s Tesla was one of the vehicles allegedly hit by the driver. She said it is going to need a lot of repairs.

“The indicator lights, the headlights, the bumpers, the panels,” she said, listing off the issues after the incident.

The video then shows officers sprinting to follow the vehicle, while other police riding bicycles rush to corner it. The 27-year-old driver was arrested at the scene.

He has been charged with failure to stop for police and dangerous operation.

Zarmeen praised the police for how they handled the situation.

“They did the right thing, nobody got hurt, the guy got arrested — all things considered, great outcome of everything,” she said.

Juliana Barcos, who lives in the area, said the dramatic video was indicative of the area.

“Not surprised,” they said, adding it was “crazy down here.”


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Man found lying on Toronto roadway was stabbed multiple times: police

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Toronto police say a man found lying on the roadway early Monday morning had multiple stab wounds.

Duty senior officer Brian Maslowski told reporters police were called to St. Clair Avenue, just east of Runnymede Road, at around 3:25 a.m.

Maslowski said it was initially thought the man was involved in a collision with a vehicle. When officers arrived, they determined he was a victim of a stabbing.

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The 55-year-old victim was rushed to hospital in life-threatening condition, Maslowski said.

Maslowski said investigators believe the man was stabbed in one area before he made his way across the street, where he was found.

A suspect in his mid-40s was arrested and is facing charges.

Maslowski would not elaborate on the circumstances as to what led up to the stabbing. He also wouldn’t comment on the relationship between the victim and the accused.

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Fatal shooting in Hamilton leaves 25-year-old man dead, police looking for suspect

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Hamilton police are investigating a fatal shooting in Dundas, Ont., that left a 25-year-old man dead Sunday evening.

Officers were called to the area of 77 Governors Road shortly after 5:00 p.m. following multiple 911 calls reporting gunfire.

When they arrived, they found the victim, identified as Zachary Shuman of Dundas, unresponsive. He was pronounced dead at the scene.

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A grey Dodge Ram registered to Shuman was found nearby.

Police say a blue Ford Edge was seen fleeing the area following the shooting. The vehicle has not been recovered, and investigators are asking anyone with information about the SUV or its driver to come forward.

Police are urging members of the public who were in the area between 4:45 p.m. and 5:10 p.m. to check their CCTV or dashcam footage for anything suspicious.

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Anyone with information is asked to contact authorities or leave an anonymous tip through Crime Stoppers.






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