Canada and Ontario commit $8.7 billion to steel, auto and mineral projects

Canada and Ontario announced $8.7 billion in investments and measures for industries and workers affected by U.S. tariffs.

• Steel: A joint fund will receive $3.55 billion from Canada and $1.67 billion from Ontario over five years to support production, new markets and steel supply for growing industries. The governments also plan to prioritize Canadian steel in public buying and strengthen enforcement against unfair trade.
• Automotive: The governments will invest an additional $2.5 billion over two years in machinery and production-line upgrades. Vehicle greenhouse gas standards will stay at 2026 levels through the 2029 model year, with annual increases resuming for 2030 models.
• Critical minerals: Canada will match Ontario’s initial investment of up to $1 billion over three years for road infrastructure in the Ring of Fire region. The governments will coordinate permitting and engage First Nations on economic and community opportunities, as well as conservation and possible Indigenous protected areas.

Steel and automotive task forces will advise on carrying out the measures. The plan also aims to help tariff-affected workers and businesses and strengthen domestic manufacturing.