Trump has announced that in response to Canadian countertariffs, he would ban imports of certain Canadian goods, including alcohol, motorcycles, some dairy products like whey and cheese, and molasses.Carlos Osorio/Reuters
Businesses affected by a new round of American tariffs and bans set to take effect later this month will be eligible for Ontario’s support programs, Premier Doug Ford announced Thursday.
U.S. President Donald Trump has announced that in response to Canadian counter tariffs, he would ban imports of certain Canadian goods, including alcohol, motorcycles, some dairy products like whey and cheese, and molasses.
Additional 50 per cent tariffs on other goods including certain steel and aluminum products, some dairy and specialty cheese products, mattresses, furniture and paper products are set to take effect on Tuesday.
In a speech to the Toronto Region Board of Trade, Ford said Ontario will expand eligibility for its tariff support programs to the affected industries so they can keep the lights on.
“I’ll be clear: Our government is going to do whatever it takes to protect workers and businesses from President Trump,” he said.
Canadian countertariffs take effect on $28-billion of U.S. imports
The Protect Ontario Financing Program gives loans for businesses to use for payroll, lease and utility payments, and the Ontario Together Trade Fund gives grants or loans to small- and medium-sized businesses to help reduce reliance on American supply chains.
Ford said in his speech that Prime Minister Mark Carney was right to respond with dollar-for-dollar tariffs, “to show President Trump that Canada will stand up for itself.”
The Toronto Region Board of Trade also backed Ottawa’s approach in the trade war, saying Thursday that Canada is in a uniquely difficult position due to its long-standing trade relationship with the United States and the resulting cross-border product supply chain.
“Make no mistake, Ontario is the country’s economic flywheel and it’s in the crosshairs. Businesses are getting hit hard, particularly industrial sectors core to the Toronto region,” the board’s president and CEO, Giles Gherson, said in a speech at the event.
“Businesses need new tools to find new markets, pivot to different products, innovate more aggressively and become more agile, critically become lower-cost suppliers,” he said.
Economic upheaval requires policy intervention and while some steps have been taken, “we’re going to need more and in short order,” he said.