Canadian Prime Minister Mark Carney and Ontario Premier Doug Ford on Wednesday jointly announced a series of strategic industry support initiatives to support workers and businesses affected by U.S. tariffs and drive long-term economic growth.
According to a news release issued by the prime minister's office, the action plan, totaling 8.7 billion Canadian dollars (about 6.18 billion U.S. dollars), focuses on safeguarding Ontario's steel, automotive, and critical mineral sectors.
Key measures include establishing a joint steel action fund, supporting automakers in upgrading production lines to build future connected and electric vehicles, and building road infrastructure alongside streamlining approval processes to develop a critical mineral supply chain in the province's north.
As the heartland of Canada's manufacturing sector, Ontario boasts world-class automotive and steel industries as well as vast deposits of critical minerals. With an economy heavily reliant on exports to the United States, particularly in autos and steel, Ontario has been among the hardest hit by U.S. tariffs.
The Canadian government has provided over 25 billion Canadian dollars in assistance to Canadian workers and businesses affected by U.S. tariffs, according to the news release.
Canada announces strategic industry support plan to counter U.S. tariffs
Canada announces strategic industry support plan to counter U.S. tariffs
