By Canadian Press on October 21, 2026.
Prime Minister Mark Carney, right, meets with Ontario Premier Doug Ford in his office in West Block on Parliament Hill in Ottawa, on Wednesday, Oct. 21, 2026. THE CANADIAN PRESS/Justin TangOTTAWA — 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.
The Canadian Press
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