Prime Minister Mark Carney and Ontario Premier Doug Ford announced a C$8.7-billion federal-provincial plan on October 21 to support Ontario’s steel, auto and critical-minerals sectors facing U.S. tariffs and trade uncertainty.
The package includes C$5.22 billion over five years for a joint steel fund. Ottawa will provide C$3.55 billion and Ontario C$1.67 billion. The fund is meant to help producers find new markets, sell overseas and supply Canadian projects.
Governments also plan to give Canadian steel priority when buying goods for public use. They also plan to enforce rules more strongly against imports traded unfairly. A further C$2.5 billion over two years is set aside for large automotive projects.
The federal government will contribute up to C$1.5 billion, and Ontario up to C$1 billion. For the Ring of Fire region in northern Ontario, Ottawa pledged up to C$1 billion to match Ontario’s investment in roads intended to enable critical-mineral development. Carney said the combined measures could help protect as many as 290,000 jobs.
Ford presented the agreement as support for workers and future employment. The announcement comes amid existing U.S. tariffs on some vehicles and auto parts. The United States has also threatened to raise tariffs on cars, trucks, parts and steel to 50 per cent on January 1.
The Ring of Fire road plan has drawn opposition from some nearby First Nations. Consultation and environmental questions are part of the wider debate over development in the region.