OTTAWA – Prime Minister Mark Carney and Ontario Premier Doug Ford unveiled an $8.7-billion joint plan on Parliament Hill Wednesday to help tariff-affected industries in the province battered by the trade war.
Ford called it “transformative” and said the top priority is to protect manufacturing in a range of industries.
A new “joint steel action fund” that includes $3.5 billion in funding from Canada and $1.7 billion from Ontario, spread out over five years, will assist steel companies in expanding the types of products they make.
That comes with a pledge to ramp up protections against foreign steel dumping through stronger border enforcement and other measures.
The overall plan also includes $2.5 billion for the automotive sector — with the federal government chipping in $1.5 billion.
Another $1 billion in federal funds spread out across three years will go toward the Ring of Fire mining development in northern Ontario to build out roads.
U.S. President Donald Trump’s trade war has dragged on for more than a year and a half, slamming key Canadian sectors, including automotive and steel manufacturing.
Carney said he spoke with Trump Wednesday morning “for quite some time,” and that Canada remains ready to sit down and negotiate with the White House when the administration is ready.
This report by The Canadian Press was first published Oct. 21, 2026.
