US EditionWindsor economy to be hardest hit by U.S. tariffs: Ontario’s financial watchdog
- The Financial Accountability Office of Ontario released a report on April 15, 2025, detailing job losses from U.S. Tariffs in the province, especially in Windsor.
- U.S. Duties on Canadian steel, aluminum, and automotive products led to retaliatory tariffs from Canada, sparking a trade dispute that has negatively affected Ontario’s export-dependent economy.
- The report predicts 68,100 fewer jobs in Ontario in 2025, increasing to nearly 140,000 by 2029, mostly in manufacturing, with Windsor facing a 1.6% employment drop in 2026.
- The tariffs could raise Ontario's unemployment by 1.1 percentage points and modestly slow GDP growth from 1.9% to 1.8% annually through 2029, with the report stating a "modest recession" may occur in 2025.
- The report implies Ontario's economy will contract this year due to tariffs, highlighting the need for swift resolution, while Premier Doug Ford remains cautiously optimistic about the future.
18 Articles
18 Articles
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Ontario could be headed for a recession, Premier disagrees
The premier of Ontario disagrees with a report from the Financial Accountability Office of Ontario (FAO) that predicts the province could be heading towards a "modest" recession this year due to the U.S. tariff war.On Wednesday morning, the FAO also projected that potential growth will be cut nearly in half next year.The dire prediction added there will be more than 68,000 fewer jobs in Ontario in 2025 as a result of tariffs, with the manufactur…
Ontario Could Lose 68,000 Jobs This Year, See ‘Modest Recession’ Due to US Tariffs: Report
Ontario could lose more than 68,000 jobs by the end of this year due to U.S. tariffs, according to a new report from the province’s financial watchdog. Jobs losses could reach 137,900 over the next several years, according to the Financial Accountability Office of Ontario (FAO), which provides independent financial and economic analysis for the provincial legislature. The FAO released its report entitled The Potential Impact of US Tariffs on the…
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