US EditionOntario launches $1 billion financing program for businesses most impacted by U.S. tariffs
Ontario's $1 billion loan program aims to protect 150,000 auto sector jobs and steel supply chains from U.S. Section 232 tariffs, ensuring business continuity and economic resilience.
- The Ontario government launched the $1 billion Protect Ontario Financing Program on August 13, 2025, at Queen's Park to support tariff-impacted businesses in steel, aluminum, and auto sectors.
- The program responds to unprecedented challenges caused by U.S. Section 232 tariffs, including a 50-per-cent tariff on steel and aluminum and a 25-per-cent tariff on non-CUSMA auto parts impacting Ontario industries.
- This program offers emergency loans from $250,000 up to $40 million to qualifying businesses that have already utilized federal tariff assistance, enabling them to manage expenses such as employee wages, rent, and utilities in order to prevent business shutdowns and job losses.
- Minister Peter Bethlenfalvy emphasized that the government is thoroughly committed to supporting workers and businesses as it strives to preserve jobs and strengthen Ontario’s economy, making it more resilient and less dependent amid ongoing trade uncertainties.
- The program represents the initial phase of a larger $5 billion fund introduced in Ontario's 2025 budget, designed to strengthen essential supply chains and provide support to more than 150,000 workers in the auto industry and approximately 16,500 employees in the steel sector who are vulnerable to tariff-related impacts.
29 Articles
29 Articles
Ontario Introduces $1 Billion Loan Program to Support Businesses Impacted by US Tariffs
Ontario is rolling out a $1 billion loan program to provide emergency funding to businesses that have been hard-hit by U.S. tariffs. Finance Minister Peter Bethlenfalvy unveiled the $1 billion Protect Ontario Financing Program at a press conference held in Queen’s Park this week, emphasizing that the fund will support struggling industries, including the province’s steel, aluminum, and automotive sectors. “We know businesses are facing tremendou…
Ont. government launches program to support steel and auto sectors - MRO Magazine
On Aug. 13, the Ontario government launched the Protect Ontario Financing Program, the first phase of the $5 billion Protecting Ontario Account that was announced in the 2025 provincial Budget. The program will reportedly provide Ontario-based businesses that have been impacted by higher (section 232) tariff rates, including the steel, aluminum and auto sectors, with up to $1 billion in liquidity support in the form of loans to protect workers a…
Ont. government launches program to help sectors impacted by tariffs
On Aug. 13, the Ontario government launched the Protect Ontario Financing Program, the first phase of the $5 billion Protecting Ontario Account that was announced in the 2025 provincial Budget. The program will reportedly provide Ontario-based businesses that have been impacted by higher (section 232) tariff rates, including the steel, aluminum and auto sectors, with up to $1 billion in liquidity support in the form of loans to protect workers a…
Ontario Launches Financing Program For Sectors Impacted By Tariffs - Canadian Plastics
Ontario’s provincial government has launched the Protect Ontario Financing Program, the first phase of the $5-billion Protecting Ontario Account that was announced in the 2025 provincial Budget. The Protect Ontario Financing Program will reportedly provide Ontario-based businesses that have been impacted by higher (section 232) tariff rates, including the steel, aluminum and auto sectors, with up to $1 billion in liquidity support in the form of…
Ontario Launches Protect Ontario Financing Program To Support Sectors Impacted By U.S. Tariffs - Manufacturing AUTOMATION
Aug. 14, 2025, Ontario — The Ontario government has launched the Protect Ontario Financing Program, the first phase of the $5 billion Protecting Ontario Account that was announced in the 2025 provincial budget. The program will provide Ontario-based businesses that have been impacted by higher tariff rates, including the steel, aluminum and auto sectors, with up to $1 billion in liquidity support in the form of loans to protect workers and opera…
Ontario launches program to help businesses affected by U.S. tariffs
Ontario has launched a new loan program to help businesses that have been affected by tariffs. Ontario’s minister of finance announced Wednesday that up to $1 billion will be allocated for emergency loan support to Ontario-based businesses in the steel, aluminum and auto sectors.
Coverage Details
Bias Distribution
- 44% of the sources lean Left, 44% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
