---
title: Canadian Action Plan to Invest $8.7 Billion in Key Sectors
description: The Canadian government commits investments of $8.7 billion to steel, automotive manufacturing, and critical mineral infrastructure amid U.S. tariffs.
image: https://blog.coleintl.com/hubfs/Images/Trade%20News%20pictures/Updated%20version/Trade%20News%20-%20CDN%20Customs%20(2).jpg
---

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# Canadian Action Plan to Invest $8.7 Billion in Key Sectors

 Trade Update: October 30,2026

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Canadian Action Plan to Invest $8.7 Billion in Key Sectors

3:18

The new investment plan aims to strengthen steel production, automotive manufacturing, and critical mineral development, especially with ongoing U.S. tariff pressures.

## At a glance

- Canada and Ontario have announced $8.7 billion in investments to support key industries affected by U.S. tariffs.
- The plan commits $5.22 billion to steel production and $2.5 billion to automotive manufacturing.
- Up to $1 billion in federal funding will support critical mineral infrastructure in Northern Ontario.

---

The federal and Ontario governments have announced an action plan to strengthen the steel and automotive industries and support critical mineral development through [$8.7 billion in investments and new measures](https://www.pm.gc.ca/en/news/news-releases/2026/10/21/prime-minister-carney-and-premier-ford-launch-new-action-plan-protect).

⁠The plan focuses on modernizing production, protecting Canadian jobs, and diversifying international markets.

While the announcement does not introduce new tariff rates, its funding and procurement measures could influence sourcing opportunities, domestic competition, and export market development.

## **$5.22 billion to strengthen Canadian steel production**

The governments are committing $5.22 billion over five years through a new Joint Steel Action Fund, including $3.55 billion federally and $1.67 billion from Ontario.

The funding will help steel producers modernize facilities, diversify production, and expand into international markets beyond the United States.

Additional measures include prioritizing Canadian steel in public procurement and strengthening Canada Border Services Agency (CBSA) enforcement against unfairly traded steel imports.

A new Canada–Ontario Steel Task Force will advise on executing these measures and improving competitiveness.

The initiatives complement Canada’s broader response to U.S. trade pressures, including previously announced ⁠[counter-tariffs on U.S. imports](https://blog.coleintl.com/tradenews/canada-announces-counter-tariffs-on-27.6-billion-in-us-imports-effective-september-8).

## **$2.5 billion for automotive manufacturing**

The governments will invest an additional $2.5 billion over two years in automotive manufacturing, including $1.5 billion federally and $1 billion provincially.

The funding will support machinery upgrades and modernized production lines, including the transition toward electric vehicle manufacturing.

Canada will also maintain its 2026 greenhouse gas emissions standards for new light-duty vehicles through the 2029 model year.

A new Canada–Ontario Automotive Task Force will coordinate measures to support the industry’s transition and competitiveness.

## **Critical mineral infrastructure receives $1 billion in federal funding**

The federal government will commit up to $1 billion over three years to match Ontario’s previously announced investment in road infrastructure supporting critical mineral development in Northern Ontario’s Ring of Fire region.

## **Understand how changing trade policies may affect your business**

Cole International provides <https://www.coleintl.com/services/trade-consulting/>[trade consulting](https://www.coleintl.com/services/trade-consulting/) and [customs brokerage](https://www.coleintl.com/services/customs-brokerage/) services to help Canadian businesses understand changing trade conditions and their implications for their imports and exports.

**Connect with one of [our trade professionals](https://www.coleintl.com/contact-us) to discuss how Canada’s new investment plan could affect your business.**

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### Latest Articles

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