OTTAWA — Ontario-based Algoma Steel Group Inc. will receive $500 million in federal and provincial loan assistance to help reorient its business to cope with the impact of U.S. tariffs. The loans are to help Algoma Steel continue operations, limit disruption to its workforce and move to a business model that isn’t as reliant on the U.S.Algoma CEO Michael Garcia said in a release that U.S. President Donald Trump's ongoing 50 per cent steel tariffs have effectively closed the American market to Canadian steel. That turnaround is also expected to help Algoma produce more of the kind of steel Canadian industry needs. Ottawa has pushed to include more domestic steel in Canadian infrastructure and defence projects in a bid to support the beleaguered sector. Industry Minister Mélanie Joly said in a statement that the Algoma loan was about "building resilience" in Canada's steel industry for decades to come.