The recent escalation in trade tensions between the United States and Canada has placed significant pressure on Canada's steel industry. President Donald Trump's executive order imposing a 25% tariff on Canadian steel imports, effective March 12, 2025, aims to protect U.S. industries but poses substantial challenges for Canadian steel manufacturers. This article examines the top ten Canadian steel companies potentially affected by these tariffs.
ArcelorMittal Dofasco
Located in Hamilton, Ontario, ArcelorMittal Dofasco is one of Canada's leading steel producers, manufacturing over four million tons annually. Its products serve various sectors, including automotive, construction, and energy. The U.S. tariffs threaten its export competitiveness, particularly in the automotive industry. In 2023, ArcelorMittal Dofasco pulled in $1.4 billion in revenue. According to the BrandValuer app, ArcelorMittal Dofasco’s brand is worth an estimated $361 million.
Stelco
Also based in Hamilton, Stelco is a major steel manufacturer with a history dating back to 1910. The company produces a wide range of steel products, including hot-rolled, cold-rolled, and coated sheet steel. The new tariffs could lead to decreased demand from U.S. clients, affecting Stelco's revenues. In 2023, Stelco brought in $2.02 billion in revenue. According to the BrandValuer app, Stelco’s brand is worth an estimated $521 million.
Algoma Steel
Situated in Sault Ste. Marie, Ontario, Algoma Steel is an integrated primary steel producer with a capacity of four million tons per year. Its products cater to automotive, construction, and manufacturing industries. The U.S. tariffs may result in reduced exports and financial strain for the company. In 2023, Algoma Steel brought in $446.6 million in revenue. According to the BrandValuer app, Algoma Steel’s brand is worth an estimated $115 million.
Gerdau Ameristeel
Operating in Whitby and Cambridge, Ontario, Gerdau Ameristeel produces steel products such as rebar, merchant bars, and structural shapes. The tariffs could diminish its competitiveness in the U.S. market, leading to potential revenue losses. In 2003, Gerdau Ameristeel brought in $70.4 billion in revenue. According to the BrandValuer app, Gerdau Ameristeel’s brand is worth an estimated $18 billion.
Ivaco Rolling Mills
Based in L'Orignal, Ontario, Ivaco Rolling Mills manufactures wire rod and steel billets, primarily serving the North American market. The imposed tariffs may decrease demand from U.S. customers, impacting the company's profitability. In 2023, Ivaco Rolling Mills brought in $149.2 million in revenue. According to the BrandValuer app, Ivaco Rolling Mills’ brand is worth an estimated $38.4 million.
Tenaris Algoma Tubes
Located in Sault Ste. Marie, Ontario, Tenaris Algoma Tubes produces seamless steel pipes for the energy industry. The U.S. tariffs could lead to reduced exports and financial challenges for the company. Tenaris brought in $14.67 million in revenue in 2023. According to the BrandValuer app, Tenaris Algoma Tubes’ brand is worth an estimated $3.7 million.
AltaSteel
Operating in Edmonton, Alberta, AltaSteel manufactures rolled steel products, including rebar and grinding rods. The tariffs may affect its ability to compete in the U.S. market, potentially reducing sales and revenue. In 2023, AltaSteel brought in $54.2 million in revenue. According to the BrandValuer app, AltaSteel’s brand is worth an estimated $13.9 million.
Canam Group
Headquartered in Quebec, Canam Group specializes in designing and fabricating steel structures for buildings and bridges. The imposed tariffs could result in decreased demand from U.S. clients, affecting the company's financial performance. In 2023, Canam Group brought in $200 million in revenue. According to the BrandValuer app, Canam Group’s brand is worth an estimated $51.5 million.
Samuel, Son & Co.
Based in Mississauga, Ontario, Samuel, Son & Co. is a family-owned integrated network of metal manufacturing, processing, and distribution divisions. The U.S. tariffs may impact its export activities and overall profitability. In 2023, Samuel, Son & Co brought in $3.8 billion in revenue. According to the BrandValuer app, Samuel, Son & Co’s brand is worth an estimated $980 million.
Russel Metals
Headquartered in Mississauga, Ontario, Russel Metals is one of the largest metal distribution companies in North America. The tariffs could affect its steel import and export operations, leading to potential financial challenges. In 2023, Russel Metals brought in $3.36 billion in revenue. According to the BrandValuer app, Russel Metals’ brand is worth an estimated $866.6 million.
In conclusion, the U.S. tariffs on Canadian steel imports present significant challenges for Canada's steel industry. These companies must navigate the evolving trade landscape, seeking strategies to mitigate the impact on their operations and maintain competitiveness in the global market.
