Support for Algoma Steel a start but Steelworkers want guarantees and transparency

Core Points - The United Steelworkers union (USW) welcomes a $400 million federal loan and an additional $100 million from the Ontario government to support Algoma Steel, emphasizing the need for transparency and public commitments to protect jobs and community interests [1][2] - The USW highlights the absence of specific investment commitments for product diversification, which is crucial for meeting Canadian steel demand in infrastructure and other sectors [2][3] - The union calls for a comprehensive industrial strategy to ensure Canada can meet its own steel needs and avoid vulnerabilities from foreign trade policies [3] Summary by Sections Government Support - The federal government is providing a $400 million loan through the Large Enterprise Tariff Loan facility, with an additional $100 million from the Ontario government to Algoma Steel [1] - The USW stresses the importance of transparent terms for this public funding to protect jobs and community interests [2] Job Security and Product Diversification - The USW expresses concern over potential layoffs as Algoma transitions to an Electric Arc Furnace (EAF) and emphasizes the need for training and reskilling funding [3] - The union criticizes the lack of specified investment commitments for product diversification, which is essential for the long-term viability of steel production in Sault Ste. Marie [2][3] Industrial Strategy - The USW advocates for a comprehensive industrial strategy that includes Buy Canadian procurement, diversification investments, strict import controls, and worker transition supports [3] - The union has been vocal about the need for decisive government action since the imposition of 50% tariffs on Canadian steel by the U.S. [3]