Ontario is set to assist more businesses affected by the recent U. S. trade actions.
New tariffs will start next week, and some Canadian-made goods will be banned in the U. S. at the end of this month.
The provincial government plans to lessen the effects on Ontario businesses by broadening access to two previously established support programs.
The $1 billion Protect Ontario Financing Program provides loans aimed at covering payroll and operational expenses.
An additional $150 million from the Ontario Together Trade Fund is designated to help businesses reach new markets.
“Ontario will not back down in our fight to protect our workers and businesses from tariffs and economic uncertainty,” states Vic Fedeli, Minister of Economic Development, Job Creation and Trade, in a release.
“In the face of President Trump’s latest economic attacks, we are helping businesses keep workers on the job and building an economy that can stand up to anything that comes our way for decades to come.”
“Our government is delivering nearly $30 billion in support for tariff-impacted workers and businesses, providing critical support so we can protect workers and communities,” adds Peter Bethlenfalvy, Minister of Finance.
“We’ll do whatever it takes to protect Ontario jobs as we continue delivering on our plan to build the most competitive economy in the G7.”
The province indicates that eligibility for these support programs will expand as U. S. trade measures against Canadian products go into effect.
A further 50% tariff on certain steel, aluminum, furniture, paper products, motorboats, dairy, and leather items will take effect on September 15th.
Most Canadian alcoholic beverages-including beer, wine, and spirits-certain dairy products, and motorcycles with engines larger than 800cc will be banned from being sold in the U. S. starting September 29th.
Randy Thoms is a veteran news broadcaster with over 40 years’ experience. He is based in Fort Frances and covers stories across northwestern Ontario. Contact Randy at thoms. randy@radioabl. ca.
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