Trade tensions with the United States have led to tough economic times for many Canadian provinces, and Ontario is no exception.
In 2025’s second fiscal quarter, Ontario’s real Gross Domestic Product declined by 0.6 per cent due mostly due to a drop in provincial exports to the States. And, although the province avoided a technical recession in Q3, the activity in the crucial manufacturing sector is at its lowest point since 2015 and unemployment has increased in nine of the past 10 quarters.
Vic Fedeli, Ontario’s minister of economic development, job creation and trade, says that this can also be a moment of opportunity for the province to attract new business.