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Ontario could lose more than 68K jobs due to U.S. tariffs this year, a new report finds

  • A report published on April 15, 2025, by Ontario’s financial oversight agency projects significant job reductions in the province as a result of U.S. Tariffs.
  • Trade duties introduced by the United States on steel, aluminum, and automobiles have disrupted major exports from Ontario, especially impacting the manufacturing industries.
  • The report projects 68,100 fewer jobs in 2025, rising to nearly 138,000 by 2029, with Windsor and other manufacturing-heavy cities most affected.
  • It states Ontario’s unemployment rate could increase by 1.1 percentage points through 2029, while GDP growth slows modestly from 1.9% to 1.8%, and consumer prices rise slightly.
  • The report suggests Ontario may face a modest recession this year if tariffs persist, though government responses and tariff changes could alter outcomes significantly.
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niagaraatlarge.com broke the news in on Wednesday, April 30, 2025.
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