Canada · Economy

Ontario: C$8.7 billion announced for industry

A plan for steel, vehicles and critical minerals.

Neutral News · Documentary summary
Friday, October 23, 2026 · Updated at 06:18 AM ET · Quebec time

Carried forward October 23. Plan announced October 21; financial commitments in Canadian dollars.

Mark Carney and Doug Ford announced a C$8.7 billion plan on October 21 for Ontario industries affected by U.S. tariffs, AP reports. [2]

Steel

The steel fund provides for C$3.55 billion federally and C$1.67 billion provincially over five years. [1]

Automakers would receive an additional C$2.5 billion over two years to modernize factories. [1]

Ottawa plans up to C$1 billion over three years for Ring of Fire roads. These commitments are not money already spent. [1]

Steel

Government of Canada

A five-year fund. [1]

Vehicles

Government of Canada

Factory upgrades over two years. [1]

Trade

Associated Press

Support in response to tariffs. [2]