Prime Minister Mark Carney says the federal government is committing nearly $9 billion to several major industrial projects in Ontario amid the ongoing trade war with the U.S.
The commitments include $5 billion to help upgrade Ontario steel mills and $2.5 billion to help the province’s ailing auto industry pivot to electric vehicle production. There is also $1 billion to help build roads to the mineral-rich Ring of Fire region in Northern Ontario.
Carney made the announcement alongside Premier Doug Ford at an announcement in Ottawa Wednesday, framing it as part of ongoing efforts to bolster Canada’s economy in the face of a drawn-out trade war with the United States.
Carney said the investments would help to create 70,000 jobs linked to the Ring of Fire and protect some 220,000 linked to the other industries.
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- You can watch the announcement LIVE here from 2 p.m. ET on CTVNews.ca, the CTV News App, CP24.com and the CP24 App