The Ford government has officially launched a $1 billion emergency tariff response program, offering companies in sectors hit by the U.S.-Canada trade war with loans of up to $40 million.

On Wednesday morning, Finance Minister Peter Bethlenfalvy and Vic Fedeli, the trade minister, unveiled the first major pillar of the government’s response to tariffs on steel, aluminum and autos from U.S. President Donald Trump.

“This new program will provide companies in the steel, aluminum and auto sectors – some of the hardest hit by U.S. tariffs — with up to $1 billion in funding support,” Bethlenfalvy explained.

“And will provide some much-needed relief for Ontario businesses who are facing working capital challenges as a result of tariffs, including payroll, lease and utility payments.”

The $1 billion confirmed Wednesday is part of a $5 billion pot announced by the Ford government during February’s snap election and confirmed in the budget that followed.

When it was announced, the government’s financial blueprint explained that the Protecting Ontario Account was designed to work together with tariff measures introduced by the federal government.

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It would include “up to $1 billion in immediate liquidity relief aimed at protecting Ontario businesses and workers facing significant tariff-related business disruptions,” the budget said.

Officials described it as “an emergency backstop for Ontario businesses that have exhausted available funding.”

Details of the remaining $4 billion have not yet been announced.

Despite announcing the fund as part of its budget in May, the $1 billion loan program is not officially up and running. Bethlenfalvy said it would be “days and weeks” rather than months before it is available to businesses.

Loans will be available ranging from $250,000 to $40 million and are only available to businesses in tariff-hit sectors like steel companies.

United States President Donald Trump has had levies in place for some time on Canadian steel and aluminum, also adding 35 per cent tariffs on all goods not covered by a trade deal between the two countries at the beginning of August.

Opposition politicians previously said the Ford government was taking too long to stimulate the economy.

“Our economy is already taking a big hit with Trump’s most recent tariff hike on all Canadian goods to 35 per cent,” NDP MPP Catherine Fife said in a statement.

“Despite growing economic uncertainty and ongoing job losses, we still don’t have a plan from the Premier to protect workers and create good jobs. In order to weather this ‘Trump Storm,’ we must strategically invest in our auto sector and fight to keep these good, stable jobs in Ontario.”

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Environment Canada is forecasting a chance of rain for Kawartha Lakes Wednesday morning as emergency crews continue to fight three active wildfires in the region.

As of 5 a.m. Wednesday, Environment Canada is forecasting mainly clouding skies with a 40 per cent chance of showers and risk of a thunderstorm. The skies will clear this afternoon, the agency added, and temperatures will reach a high of 28 degrees.

Ontario’s forest fire info map currently shows three active wildfires blazing in the region, with the forest fire danger ratings listed as low.

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Of the three fires, the Ministry of Natural Resources and Forestry said Tuesday the largest fire, OFR 1, had consumed approximately 33.5 hectares of forest near Burnt River. Meanwhile, the Haliburton 18 fire burned through 27 hectares of forest, it added.

The third fire, the Kirkfield fire, had consumed five hectares and began on Aug. 11.

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Kawartha Lakes forest fires ‘not under control’ amid dry conditions

There were no evacuation orders in place, but residents were being asked to remain alert.

“There is a total fire ban in effect across the city of Kawartha Lakes and we will be policing that,” Mayor Doug Elmslie said Tuesday.

“If you see smoke, report it immediately to Kawartha Lake’s fire rescue.”

— with files from Prisha Dev

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