Ontario and Ottawa commit $8.7 billion to steel, autos and Ring of Fire roads

Ontario and Canada announced $8.7 billion in investments and new measures to support strategic industries, workers and businesses affected by U.S. tariffs.

• Steel: A joint fund will receive $3.55 billion from the federal government and $1.67 billion from Ontario over five years. The governments also plan to prioritize Canadian steel in public procurement and strengthen monitoring and enforcement against unfairly traded imports.
• Autos: Up to $2.5 billion in additional support over two years will back large-scale automotive projects. Canada will keep light-duty vehicle emissions standards at 2026 levels through 2029, with annual increases resuming for the 2030 model year.
• Critical minerals: Canada will commit up to $1 billion over three years to advance road infrastructure in the Ring of Fire. The governments will coordinate permitting and create a working group on First Nations consultation, engagement and development opportunities, including options for conservation or Indigenous protected areas.