Federal, Ontario governments to announce billions in support for key sectors, source says

Prime Minister Mark Carney and Ontario Premier Doug Ford are set to unveil billions of dollars in new supports for the steel, energy and auto sectors hit by U.S. tariffs, as well as additional funding for projects in the province’s Ring of Fire region, according to a source familiar with the announcement.

Mr. Ford is heading to Ottawa on Wednesday to meet with the Prime Minister, before the two leaders hold a joint news conference on Parliament Hill scheduled for 2 p.m.

The Globe and Mail is not naming the source as they are not authorized to speak publicly about internal deliberations.

The Ontario government says the Ring of Fire region in northern Ontario is rich with critical minerals, and Mr. Ford has made mining opportunities a centrepiece of his economic agenda.

The province has asked for the federal government to match its billion-dollar contribution to a road that would reach the remote area.

Wednesday’s announcement is expected to focus on the key sectors battered by U.S. tariffs, as the possibility of resolution with the Trump administration looks increasingly unlikely.

U.S. steelmaker Cleveland-Cliffs is locked in a battle with Ottawa after its subsidiary Stelco announced last month it was laying off hundreds of workers in Hamilton and Nanticoke, Ont. The federal government has threatened legal action, alleging Cliffs has breached legally binding job commitments from when it acquired Stelco in 2024, including maintaining at least the same number of unionized employees in Canada for five years. Cliffs says it can no longer compete in galvanized steel in Canada, owing to both the trade war with the United States and Ottawa not doing enough to prevent a flood of cheap imports.