Federal government commits nearly $9 billion for Ontario industries in face of trade war
The package adds $5 billion for steel, $2.5 billion for autos and stronger action against foreign steel dumping, officials said.
- Prime Minister Mark Carney and Ontario Premier Doug Ford are meeting in Ottawa on Wednesday to announce support for tariff-hit industries and workers.
- Pressure from U.S. tariffs forced Stelco to concentrate steel production at its Lake Erie Works plant in Haldimand and halt operations in Hamilton, triggering imminent layoffs.
- Industry Minister Melanie Joly said on Friday that a resolution is a "question of days," with the government alleging "multiple breaches of the commitments" under the Investment Canada Act.
- Finance Minister Francois-Philippe Champagne announced on Tuesday that the federal budget will be released on Nov. 5, two days after the midterm elections.
- Carney will depart for Turkey after the meetings, as the Parliamentary Budget Officer projects economic growth of 0.9 per cent for this year and 1.5 per cent for 2027.
30 Articles
30 Articles
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Market Screener
BizTocCanada to Provide Steel, Auto Sectors With Billions to Ease Trade Crunch
By Paul Vieira OTTAWA--Canadian Prime Minister Mark Carney said Wednesday his government would provide billions in financial support to steel and automakers as the domestic sectors face potential...
WATCH LIVE: Federal government commits nearly $9 billion for Ontario industries in face of trade war
Prime Minister Mark Carney says the federal government is committing $9 billion to several major industrial projects in Ontario amid the ongoing trade war with the U.S.
Rocky Mountain Outlook
CP Carney, Ford unveil $9B plan to support industries hit by tariff war
OTTAWA — Prime Minister Mark Carney is announcing a $9-billion joint plan by the federal government and Ontario to help industries hit hard by the trade war with the United States. It includes a $5-billion fund for the steel industry, $2.
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