Ontario expands tariff-relief financing to shield workers and businesses from U.S. duties

Ontario is expanding eligibility for its Protect Ontario Financing Program to shield workers and businesses facing new tariff pressures from the United States, the provincial government announced August 24.

The expanded program will provide up to $1 billion in loans to Ontario-based businesses dealing with tariff-related working capital challenges, including payroll, lease payments and utility payments. The expansion responds to the U.S. enacting new Section 338 tariffs imposing a 50 per cent spike on a range of Canadian imports, while also continuing to subject businesses to existing Section 232 tariffs on steel, aluminum, copper and automotives.

Premier Doug Ford framed the expansion as essential protection. "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," he said.

First launched in August 2025, the program is part of Ontario's broader $30 billion tariff relief and support plan. That plan also includes the $150 million Ontario Together Trade Fund, which has supported 89 companies to date on projects totalling nearly $1 billion in investments that are projected to protect and create more than 10,000 good-paying jobs across the province. The plan also encompasses the $40 million Trade-Impacted Communities Program to help affected regions adapt to tariff disruption.

Ontario has criticized the U.S. tariffs as unjustified, arguing they disrupt integrated supply chains, undermine investor confidence and raise costs for American consumers. The province continues to pursue retaliatory restrictions on U.S. alcohol and procurement as part of its response strategy.