Ontario is expanding financial supports for businesses caught in the crossfire of the escalating Canada–U.S. trade fight, as a new round of American tariffs and import bans targeting key provincial exports begins rolling out this month.
The province announced Thursday it is broadening eligibility for the Protect Ontario Financing Program (POFP) and the Ontario Together Trade Fund (OTTF). The $1‑billion POFP provides immediate relief for tariff‑impacted businesses through loans that can be used for payroll, lease payments, utilities and other operating costs, while the $150‑million OTTF offers grants or loans to small and medium‑sized businesses to help them expand interprovincial trade and reshore supply chains away from the U.S.
The expanded eligibility will take effect on the same days the U.S. measures come into force, ensuring companies can apply for support immediately.
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Economic Development Minister Vic Fedeli said the province is responding to “President [Donald] Trump’s latest economic attacks,” arguing Ontario must act quickly to shield workers and businesses from uncertainty.
“Ontario will not back down in our fight to protect our workers and businesses from tariffs and economic uncertainty,” Fedeli said. “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.”
New U.S. tariffs take effect Sept. 15 and 29
The Trump administration outlined its latest actions on Sept. 8, imposing additional 50 per cent tariffs on a wide range of Canadian exports beginning Sept. 15. The targeted goods include:
- Certain steel, aluminum and other metal products
- Mattresses, furniture, paper products, motorboats and golf carts
- Dairy and specialty cheese products
- Selected animal skins and leather goods
A second wave of measures — described by Ontario officials as “unjustified import bans” — will take effect Sept. 29, covering:
- Most Canadian alcoholic beverages, including beer, wine, cider and spirits
- Certain dairy‑related products, including whey
- Motorcycles with engine capacities above 800cc
The tariff fight has intensified sharply in recent weeks. Trump has repeatedly targeted Ontario‑based industries, prompting strong pushback from Premier Doug Ford and Prime Minister Mark Carney.
Ford has accused Trump of “punishing Ontario workers,” while Carney unveiled a sweeping set of retaliatory tariffs.