The Ontario government announced Monday that it is immediately broadening eligibility for the Protect Ontario Financing Program to shield workers and businesses affected by newly enacted section 338 tariffs imposed by the United States on a range of Canadian imports.
The expansion, which will work alongside the province’s existing tariff-relief measures, is meant to ensure businesses whose exports are affected by the 50 per cent tariff spike, as well as those still subject to existing section 232 tariffs on steel, aluminum, copper and automotives, can withstand mounting operational pressures and keep workers on the job.
“Our government will do whatever it takes to stand up for Ontario workers and protect their jobs and paycheques as we face down this latest economic attack from President Trump,” said Premier Doug Ford. “Now more than ever, Team Canada needs to deliver on our shared commitment to build the most competitive and resilient economy in the G7, so we can attract investment, create jobs and protect workers and their families for decades to come.”
Ontario has said the unjustified U.S. tariffs hurt workers, businesses and families on both sides of the border by disrupting integrated supply chains, undermining investor confidence and raising costs for American consumers, who the province says ultimately bear the cost of the tariffs. The government said it continues to adapt and use all available tools to mitigate the impacts, including retaliatory restrictions on U.S. alcohol and procurement, and to safeguard critical supply chains and workers from closures and layoffs.
“As President Trump’s tariffs continue to target our province’s key industries and the world-class workers behind them, our government remains unwavering in its commitment to protect Ontario,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “By broadening eligibility for the Protect Ontario Financing Program and advocating for a fair deal, we will ensure Ontario’s economy can remain competitive and resilient for generations to come, while advancing meaningful, immediate relief for our businesses and their workers today.”
First launched in August 2025, the Protect Ontario Financing Program provides up to $1 billion in financial support in the form of loans to Ontario-based businesses facing tariff-related working capital challenges, including payroll, lease payments and utility payments. The program is part of Ontario’s broader $30 billion tariff relief and support plan, which includes the $150 million Ontario Together Trade Fund, the $40 million Trade-Impacted Communities Program and the Ontario Made Manufacturing Investment Tax Credit.
The Ontario Together Trade Fund has so far supported 89 companies with projects amounting to nearly $1 billion in total investments, protecting and creating more than 10,000 jobs across the province, while the Trade-Impacted Communities Program has announced seven projects valued at $5.6 million that have created and protected 1,605 jobs. The manufacturing tax credit is expected to provide an estimated $2.7 billion in income tax support over five years.
“Our government is taking decisive action to protect Ontario workers, businesses and communities from U.S. tariffs taking direct aim at our economy,” said Peter Bethlenfalvy, Minister of Finance. “Our government will continue to provide targeted support for our trade-impacted sectors and invest in strategic priorities to ensure Ontario remains resilient and well-positioned to navigate global uncertainty and seize new opportunities for long-term growth.”
Section 232 of the U.S. Trade Expansion Act of 1962 allows the U.S. president to impose tariffs on goods from other countries deemed to threaten national security, and has been used to place tariffs on Canadian steel, aluminum, copper and autos. Section 338 of the U.S. Tariff Act of 1930 authorizes the president to impose additional duties of up to 50 per cent on imports from countries deemed to discriminate against U.S. commerce — a provision used for the first time to impose the new tariffs on a broad range of Canadian goods, effective as of 12:01 a.m. Eastern time on August 22.
Ontario is the steel-making hub of Canada, home to three large producers with a supply chain supporting 16,500 workers, and its auto sector is highly integrated with the U.S. The province’s cement and concrete industry also helps fill a supply gap in the U.S., particularly along the East Coast, where American industry has said domestic production cannot currently meet demand.
