Updated October 21, 2026 @ 4:05pm
Prime Minister Mark Carney and Ontario Premier Doug Ford unveiled a $9 billion joint plan today to help tariff-affected industries.
It includes a $5 billion “joint steel action fund,” $2.5 billion for the automotive sector and $1 billion for Ring of Fire mining development in northern Ontario.
Carney says the federal government will match the $1 billion in funding Ontario is putting toward building road infrastructure out to the Ring of Fire.
Ford says it's a “transformative” plan and that the number 1 priority is to protect manufacturing in a range of industries.
Details on how the funding arrangements break down were not immediately available.
U.S. President Donald Trump’s trade war has dragged on for more than a year and a half, battering key Canadian sectors, including automotive and steel manufacturing.
This report by The Canadian Press was first published Oct. 21, 2026.
