The Canadian government and the leadership of the province of Ontario have announced a support package of 9 billion Canadian dollars (approximately 6.4 billion US dollars) to reduce the impact of customs tariffs imposed by the US.
Modern.az reports that “Reuters” disseminated information about this.
The package mainly envisages supporting the steel and automotive industries, expanding production capacities and developing strategic mineral resources.
More than 5 billion Canadian dollars of the funds will be directed to the modernization of the steel industry, and 2.5 billion dollars to increasing the production of electric vehicles.
In addition, 1 billion Canadian dollars will be allocated for the construction of transport infrastructure in the mineral-rich Ontario region.
The decision aims to reduce the negative effects of the US tariff policy on the Canadian economy.
