At a GNCC Spotlight event on July 30th, the Honourable Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade, reassured the crowd that whatever happened as tomorrow’s deadline for Canada-U.S. trade negotiations arrived, Ontario was ready.

The government had set aside $5 billion for support if the worst should happen, Minister Fedeli said. That money will be used to help Ontario’s businesses survive a trade war if the Government of Canada should be unable to mollify an intransigent White House south of the border.

Everyone the minister had spoken to on his missions to the United States, Republican and Democrat, had acknowledged that the tariffs were a tax on Americans. He flatly rejected U.S. President Donald Trump’s claims that the USA did not need Canadian trade. The United States could supply only 16% of its aluminum needs if it turned every facility on full-steam 24/7, he said. Most U.S. nickel comes from Canada, as do 95% of the USA’s potash purchases.

Premier Ford secured tariff exemptions for CUSMA-compliant companies, comprising 92 to 95% of exporters in Ontario. But that remaining 5-8% weighs heavily on the Government of Ontario. The minister reminded the audience of programs like the Skills Development Fund, the Tariff Impacted Community Program, and other supports currently available and in the works that would help them.

In a fireside chat with GNCC CEO Mishka Balsom, Minister Fedeli reiterated his long-term confidence in Ontario’s economy. “Have faith, and keep investing,” he told the business leaders in attendance.