Ontario boosts business relief funding ahead of incoming U.S. tariffs

Ontario is expanding eligibility under the Protect Ontario Financing Program (POFP) and the Ontario Together Trade Fund (OTTF) to protect jobs in tariff-impacted sectors.

On Tuesday, the U.S. government outlined several measures aimed at Canadian exports to the U.S., including additional 50 per cent tariffs that are set to take effect next Tuesday.

They also outlined import bans on certain Canadian goods including alcohol, dairy products and motorcycles, which set to take effect on Sept. 29.

The province’s expansion of eligibility will provide Ontario businesses with the essential funding needed to keep workers on the job and localize their supply chains.

“Ontario will not back down in our fight to protect our workers and businesses from tariffs and economic uncertainty,” said Vic Fedeli, minister of economic development, job creation and trade.

“In the face of President Trump’s latest economic attacks, we are helping businesses keep workers on the job and building an economy that can stand up to anything that comes our way for decades to come.”

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The $1 billion POFP provides immediate relief for Ontario businesses impacted by tariffs and trade disruptions by providing loans that can be used for expenses including payroll, lease payments and utilities.

Additionally, the $150 million OTTF provides grants or loans to small and medium-sized Ontario businesses to help them expand interprovincial trade and shift supply chains out of the U.S.

“Our government is delivering nearly $30 billion in support for tariff-impacted workers and businesses, providing critical support so we can protect workers and communities,” said Minister of Finance Peter Bethlenfalvy.

“We’ll do whatever it takes to protect Ontario jobs as we continue delivering on our plan to build the most competitive economy in the G7.”

The government is also delivering on its plan to build the most competitive, resilient and self-reliant economy in the G7.

This includes unlocking Ontario’s vast supply of critical minerals, including in the Ring of Fire, which can add 70,000 jobs and $22 billion to Ontario’s economy.

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