Canada announces strategic industry support plan to counter U.S. tariffs

The Gordie Howe International Bridge is seen from the Canadian side in Windsor, Ontario, Canada, on July 27, 2026. (Photo by Zou Zheng/Xinhua)

OTTAWA, Oct. 21 (Xinhua) -- Canadian Prime Minister Mark Carney and Ontario Premier Doug Ford on Wednesday jointly announced a series of strategic industry support initiatives aimed at supporting workers and businesses impacted by U.S. tariffs and driving long-term economic growth.

According to a news release issued by the prime minister's office, the action plan, totaling 8.7 billion Canadian dollars (about 6.18 billion U.S. dollars), focuses on safeguarding Ontario's steel, automotive, and critical mineral sectors.

Key measures include establishing a joint steel action fund, supporting automakers in upgrading production lines to build future connected and electric vehicles, and building road infrastructure alongside streamlining approval processes to develop a critical mineral supply chain in the province's north.

"From mine to mill to assembly line, Canada and Ontario are protecting jobs today and making bold investments that will build a stronger, more resilient, more independent Canadian economy for tomorrow," Carney said.

As the heartland of Canada's manufacturing sector, Ontario boasts world-class automotive and steel industries as well as vast deposits of critical minerals. With an economy heavily reliant on exports to the United States, particularly in autos and steel, Ontario has been among the hardest hit by U.S. tariffs.

The Canadian government has provided over 25 billion Canadian dollars in assistance to Canadian workers and businesses affected by U.S. tariffs, according to the news release. (1 U.S. dollar = 1.40 Canadian dollar)