Ontario-based Algoma Steel Group Inc. reported a steep profit decline in Q2 as 50% U.S. tariffs hit its business.  The company suspended its dividend to preserve cash amid ongoing uncertainty, and reported a Q2 net loss of C$110.6 million vs. a C$6.1 million profit a year earlier .  Revenue fell to C$589.7 million (from C$650.5 million) .  CEO Michael Garcia said U.S. tariffs have “significantly deteriorated” the steel market; Algoma paid C$64.1 million in tariffs in Q2 (compared with none last year) .  In Q2, 54% of Algoma’s steel volume went to the U.S., whose effective 50% import duties (raised from 25% in June) have curtailed exports .  Algoma is pivoting to serve Canadian demand: it noted new defense, infrastructure and clean energy projects may boost orders, and it signed an MoU with shipbuilder Seaspan to re-establish domestic supply chains .  Garcia said the firm is seeking roughly C$500 million in government support to weather the disruption.  Algoma’s shares fell about 7% after the results.  The company remains Canada’s only independent primary steelmaker and is completing a shift to electric arc furnace production to cut costs and emissions.