Carney, Ford unveil $9B plan to support industries hit by tariff war

Prime Minister Mark Carney and Ontario Premier Doug Ford are set to announce support for steel and auto sectors hit by tariffs.

By The Canadian Press

Posted Oct 21, 2026 09:00:31 AM.

Last Updated Oct 21, 2026 02:46:45 PM.

Prime Minister Mark Carney and Ontario Premier Doug Ford unveiled a $9 billion joint plan Wednesday 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.

Prime Minister Mark Carney, left, speaks with Ontario Premier Doug Ford during the closing press conference at the First Ministers Meetings in Charlottetown on Thursday, July 23, 2026. THE CANADIAN PRESS/Darren Calabrese The Canadian Press

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