Carney, Ford to announce funding for clean auto investments: source

Prime Minister Mark Carney and Ontario Premier Doug Ford are set to make an announcement on Wednesday regarding support for workers and industries facing the impact of trade tensions. The two leaders will meet in Ottawa, beginning with a gathering of the Liberal caucus. Carney will then make the official statement addressing concerns over workers at an Ontario-based steel manufacturing plant, Stelco, which has announced imminent layoffs due to U.S. tariffs forcing production shifts.

Stelco's decision to concentrate steel production at its Lake Erie Works plant in Haldimand and halt operations at its Hamilton plant has left many workers uncertain about their future. Some employees may be offered transfer opportunities, but the majority will face job loss. Industry Minister Melanie Joly has stated that resolving the standoff with Stelco is "a question of days," warning that the federal government may impose financial penalties and a forced divestiture, requiring the company to sell all its assets in Canada if commitments under the Investment Canada Act are not met.

Finance Minister Francois-Philippe Champagne announced that the federal budget will be released on November 5, two days after the U.S. midterm elections. This move comes after the Parliamentary Budget Officer reduced the economic growth outlook for 2026 and 2027, now projecting 0.9% and 1.5% growth respectively, down from the previously anticipated 1.1% and 1.6%.