Canada unveils six billion dollar package to counter American trade tariffs

Canadian Prime Minister Mark Carney and Ontario Premier Doug Ford unveiled a 6.2 billion Canadian dollar package on Wednesday to protect steel and auto industries from United States trade tariffs, Euronews reported. The package equals approximately 5.7 billion euros. Carney warned that Washington has permanently altered a trade relationship that was built over decades. [1]

Under the five year plan, 3.7 billion Canadian dollars will go to steelmakers and 1.8 billion Canadian dollars will support automakers, according to Euronews. The Canadian federal government in Ottawa is providing 1.1 billion Canadian dollars of the auto funding. Carney said the tariffs make both United States and Canadian industries weaker while reducing choices for consumers. [1]

Ontario is the most populous province in Canada and is home to over 14 million people, which represents roughly 38.5 percent of the national population. The provincial capital is Toronto, while Ottawa serves as the national capital of Canada. [3]

The assistance package was announced on the same day that United States owned Cleveland-Cliffs confirmed job layoffs, Euronews reported. [1]