Canada and Ontario commit $8.7 billion to steel, autos and mining

Canada and Ontario announced an $8.7 billion action plan to support industries and workers affected by U.S. tariffs and strengthen domestic manufacturing.

What the plan includes

• Steel: Create a joint fund with $3.55 billion from Canada and $1.67 billion from Ontario over five years. The plan also prioritizes Canadian steel in public procurement and strengthens enforcement against unfair steel imports.
• Automotive: Invest an additional $2.5 billion over two years in manufacturing projects—$1.5 billion federally and $1 billion provincially—to upgrade machinery and production lines. Canada will keep vehicle emissions standards at 2026 levels through the 2029 model year, with annual increases resuming for the 2030 model year.
• Critical minerals: Canada will match Ontario’s initial investment of up to $1 billion over three years for roads supporting development in Northern Ontario’s Ring of Fire region. The governments will coordinate permitting and work with First Nations on economic and community opportunities, as well as options for conservation or Indigenous protected areas.
• Coordination: New Canada-Ontario task forces will advise on steel and automotive measures.

The governments say the plan is intended to protect jobs, strengthen domestic industries and help Canadian businesses reach new markets.