U.S. and tariffs
An agreement between U.S. President Donald Trump and Prime Minister Justin Trudeau means 25 per cent tariffs are paused for at least 30 days from Feb. 3 for the two countries to reach a deal.
Progressive Conservative
The Progressive Conservatives have promised to keep and extend an electric vehicle manufacturing subsidy agreed during their last term in government. The promise could have disappeared after the U.S. walked away from its plan but, if re-elected, the PCs said they would continue up to $14 billion in incentives for electric vehicle and battery manufacturing plants.
The PCs are also promising to spend $38 million on “action centres” to help people transition into other jobs if there are layoffs as a result of U.S. tariffs on Canadian goods.
The party has also announced another $40 million for “trade-impacted communities,” money set aside for municipalities particularly reliant on U.S. trade and harmed most by tariffs.
If elected and if tariffs hit, the PCs are promising to defer provincially administered taxes on Ontario businesses by six months, a measure the party pegs at $10 billion. It has also promised a further $3 billion in payroll tax and premier relief for small businesses.
The party would also increase the wholesale LCBO discount from 10 to 15 per cent to save bars and restaurants money — costing a PC government $120 million.
Another $300 million would be spent by a re-elected Ford government to expand a tax credit for domestic Ontario manufacturing. Separately, $600 million would go to the Invest Ontario Fund to attract manufacturing and life science technology
The Liberals have promised to create a “fight tariff fund” if elected, which would give Ontario businesses lower interest rates and work to eliminate interprovincial trade barriers.
The party said it would also offer a $150,000 bonus for Canadian nurses and doctors working in the U.S. to move to Ontario.
New Democratic
The Ontario NDP said it would “partner” with unions and employers to protect jobs and work to find new supply chains in industries that rely heavily on the U.S. The party also said it would “support” the auto sector.
The NDP said it would launch a Buy Ontario campaign and direct government agencies to procure locally. The party would also create a task force on the economy and support local farming by removing the cap from Ontario’s Risk Management Program.
The NDP also said it would implement a federal-provincial income support program. The party has not put a price tag on any of its tariff response promises.
The Ontario Greens have promised to create a tariff task force to tackle the issue. The party said it would also create an investment tax credit and a Buy Ontario strategy.
The Greens also said they would create a Protect Ontario Fund to support businesses disproportionately impacted by tariffs and work to diversify Ontario’s trade partners.