Ontario announces 7.7 billion-dollar in tariff support
Business
Ontario announces 7.7 billion-dollar in tariff support
TORONTO (Reuters) - Ontario will provide around C$11 billion ($7.7 billion) in relief to workers and businesses to help weather tariffs in Canada's largest province, Premier Doug Ford said in an X post on Monday.
The relief comes in the form of deferred taxes for businesses and a rebate for employers to help keep workers in jobs, a statement from the province said.
Canada was spared the Trump administration's broad global tariffs on April 2 but faces tariffs on steel and aluminum exports to the U.S. as well as on autos not compliant with the United States-Mexico-Canada Agreement on trade.
The federal government in March unveiled C$6.5 billion of financial aid to help companies tap new international markets, absorb the impact of losses, access easy loans and prevent layoffs.
