Ontario Construction News staff writer
Ontario is expanding access to a $1-billion financing program designed to help businesses weather the impact of U.S. tariffs, broadening eligibility to include companies affected by the latest round of American trade measures as well as those already facing tariffs on steel, aluminum and other products.
The province announced the changes Sunday in Hamilton, saying businesses facing working capital pressures caused by the new U.S. Section 338 tariffs will now be eligible for support through the Protect Ontario Financing Program.
The expanded program will also continue to support Ontario companies affected by existing Section 232 tariffs on steel, aluminum, copper and automobiles.
The move comes as Ontario and the federal government respond to escalating trade tensions with the United States and follows a new 50 per cent increase in tariffs affecting a range of Canadian imports.
Launched in August 2025, the Protect Ontario Financing Program provides up to $1 billion in loans to Ontario-based businesses experiencing tariff-related working capital challenges. The financing can be used to cover expenses such as payroll, lease payments and utilities.
For Ontario’s construction sector, the continued inclusion of businesses affected by U.S. tariffs on steel, aluminum and copper is particularly significant. Those materials are widely used throughout the industry and higher costs or supply chain disruptions can ripple through manufacturers, suppliers, fabricators and construction projects.
“By broadening eligibility for the Protect Ontario Financing Program and advocating for a fair deal, we will ensure Ontario’s economy can remain competitive and resilient for generations to come, while advancing meaningful, immediate relief for our businesses and their workers today,” Economic Development, Job Creation and Trade Minister Vic Fedeli said in a statement on Tuesday.
The financing program is part of Ontario’s broader $30-billion tariff relief and support plan, which includes measures aimed at helping businesses diversify markets, strengthen domestic supply chains and make new investments.
Among them is the $150-million Ontario Together Trade Fund, which supports small and medium-sized businesses affected by U.S. tariffs. The fund is intended to help companies expand into new international and interprovincial markets, improve competitiveness and reshore critical supply chains.
So far 89 companies have received a total of almost $1 billion. The province has also established a $40-million Trade-Impacted Communities Program to help communities and local industries disproportionately affected by U.S. tariffs reduce their reliance on American markets and pursue new export opportunities.
Ontario said it has announced seven projects through that program, valued at $5.6 million and supporting the creation and protection of 1,605 jobs.
Also, the Ontario Made Manufacturing Investment Tax Credit provides tax relief for qualifying investments in buildings, machinery and equipment used in manufacturing or processing in Ontario. The province estimates the credit will provide $2.7 billion in income tax support over five years.
“Our government is taking decisive action to protect Ontario workers, businesses and communities from U.S. tariffs taking direct aim at our economy,” said Finance Minister Peter Bethlenfalvy. “Our government will continue to provide targeted support for our trade-impacted sectors and invest in strategic priorities to ensure Ontario remains resilient and well-positioned to navigate global uncertainty and seize new opportunities for long-term growth.”
Tariff-relief measures will evolve as the trade situation continues.
