Live: Ottawa commits nearly $9 billion to Ontario industries amid trade war

Prime Minister Mark Carney says the federal government is committing nearly $9 billion to several major industrial projects in Ontario amid the ongoing trade war with the United States. The commitments include $5 billion to help upgrade Ontario steel mills, $2.5 billion to help the province’s ailing auto industry pivot to electric vehicle production, and $1 billion to help build roads to the mineral-rich Ring of Fire region in Northern Ontario.

Carney announced the commitments Wednesday in Ottawa alongside Premier Doug Ford. He framed them as part of ongoing efforts to bolster Canada’s economy in the face of a drawn-out trade war with the U.S. In prepared remarks, Carney said protecting what the country has is not enough and that Canada must go further to transform its economy and secure its future.

Carney said the investments would help create 70,000 jobs linked to the Ring of Fire and protect about 220,000 jobs linked to the other industries.

This is a breaking news story, and more details are expected. The announcement can be watched live from 2 p.m. ET on CTVNews.ca (https://www.ctvnews.ca/), the CTV News App (https://www.ctvnews.ca/app/), CP24.com (https://www.cp24.com/) and the CP24 App (https://www.cp24.com/app/).