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Ontario Economy

Not since Nixon has a U.S. president set in motion such a significant transformation of global economics – by David Shribman (Globe and Mail – February 3, 2025)

https://www.theglobeandmail.com/

U.S. President Donald Trump’s decision to begin tariffs against Canada, Mexico and China on Tuesday represents the most significant unilateral and intentional economic disruption any global leader has prompted in more than a half-century.

Not since Richard Nixon removed the United States from the gold standard in 1971 and imposed an import surcharge has the unbridled power of an American president – indeed, of any top official anywhere – set in motion a transformation of global economics, trading patterns, international relations and potential consumer impact that remotely approaches the effect of Mr. Trump’s imposition of tariffs against the three top trading partners of the biggest consumer economy in human history.

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OPINION: Will the political parties stick up for the ailing forest industry? – by Tom Clark, Jeremy Williams, Don Huff and Bud Knauff (Northern Ontario Business – January 30, 2025)

https://www.northernontariobusiness.com/

Voters should demand real action and investment commitment from party leaders to revitalize, ‘re-imagine’ this critical sector

As Ontario braces for a snap provincial election called by Premier Doug Ford, the languishing forest industry in rural and Northern Ontario remains a critical yet overlooked issue. The closure of major pulp mills in Espanola and Terrace Bay have dealt a severe blow to the region’s economy, with far-reaching consequences that demand immediate attention.

The indefinite idling of Domtar’s Espanola pulp mill in November 2023 and Aditya Birla’s Terrace Bay mill in January 2024 has resulted in the loss of over 850 direct jobs and the annual production of 600,000 tonnes of Northern Bleached Kraft pulp.

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Ontario’s big EV gamble just lost everything to Trump – by Randall Denley (National Post – January 24, 2025)

https://nationalpost.com/

Ford placed a big bet on increasing American demand for EVs, but the new president’s moves almost certainly ended that possibility

U.S. President Donald Trump hasn’t imposed any tariffs on Canada yet, but he’s already dealt a potentially devastating blow to Ontario Premier Doug Ford’s signature industrial policy.

Ford has heavily touted his plan to make the province a major player in the electric-vehicle industry, especially in the production of batteries. Ontario has promised billions of dollars in government support to make it happen. With the stroke of a pen this week, Trump undermined that plan, perhaps fatally.

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‘Sleeping with an elephant:’ What will a Republican or Democrat win mean for Canada? – by Kelly Geraldine Malone (Finance Yahoo – October 19, 2024)

https://ca.finance.yahoo.com/

WASHINGTON — Pierre Trudeau famously described living next to the United States as “sleeping with an elephant,” a sentiment his son is intimately aware of amid this year’s tumultuous and polarized American election.

Prime Minister Justin Trudeau has likely reflected on his father’s words about Canada’s proximity to the U.S.: “one is affected by every twitch and grunt.” The U.S. is Canada’s closest neighbour and largest trading partner and who wins the White House in November will be in charge during the review of the Canada-U.S.-Mexico agreement in 2026.

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Canada’s nuclear watchdog green-lights operation of aging Pickering reactors to 2026 – by Matthew McClearn (Globe and Mail – October 11, 2024)

https://www.theglobeandmail.com/

Canada’s nuclear safety regulator again extended a crucial permit for the country’s oldest nuclear power plant on Friday, allowing it to continue operating beyond its original design life.

On Friday the Canadian Nuclear Safety Commission authorized its owner, Ontario Power Generation, to operate the Pickering Nuclear Generating Station for an additional two years, to Dec. 31, 2026. The extended permit applies only to its newest four reactors, Units 5 through 8, which are collectively known as Pickering B. Those reactors entered service between 1983 and 1986.

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A milestone moment at Sault, Michigan’s big dig – by Ian Ross (Northern Ontario Business – September 27, 2024)

https://www.northernontariobusiness.com/

The U.S. Army Corps of Engineers $3-billion lock project soldiers on to 2030 completion

The U.S. Army Corps of Engineers delivered a update on its US$3.22-billion construction project to carve out a new lock at Sault Ste. Marie, Michigan.

The Lake Superior side of the approach wall for ships was declared substantially complete on Sept. 17. The contractors, Kokosing-Alberici, of Westerville, Ohio, were awarded that segment of the project – valued at US$117 million – beginning in September 2020.

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BACK ROADS BILL Roadside labour monument remembers tragedy – by Bill Steer (Timmins Today – September 7, 2024)

 

https://www.timminstoday.com/

This week Bill finally stops at a roadside monument he should have long ago

Labour Day has just passed; it is an important statutory holiday that means more than the back-to-school transition and the pending end of summer.

Always on the way to somewhere else on the back roads I am ashamed to say, over decades, I have passed by this roadside monument far too many times. That misplaced streak ended recently. At this location Highway 11 North is straight as an arrow. You can see the overgrown derelict farmsteads of “broken promises and shattered dreams,” along the way.

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Canadian billionaire Barry Zekelman weighs his options after amassing equity stake in Algoma Steel – by Niall McGee (Globe and Mail – September 6, 2024)

https://www.theglobeandmail.com/

Canadian billionaire Barry Zekelman isn’t ruling out a takeover of Algoma Steel Group Inc. as he weighs several options after his privately held steel products company recently took an equity stake in the venerable Canadian steel maker.

Chicago-based Zekelman Industries in late July revealed in a 13D filing with the U.S. Securities and Exchange Commission that it amassed a 5-per-cent stake in Sault Ste. Marie, Ont.-based Algoma. Such filings are required for activist as opposed to passive investors. In the filing, Zekelman Industries said it may engage with management and the board, or other shareholders about “potential business combinations, dispositions or other transactions.”

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Green steel: Inside Algoma Steel’s massive project to go electric – by Jeffrey Jones (Globe and Mail – September 1, 2024)

https://www.theglobeandmail.com/

Algoma Steel Inc.’s smokestacks have been a fixture on the bank of the St. Marys River at the eastern end of Lake Superior for more than a century. Its mill has played a crucial role churning out an essential ingredient for the country’s industrialization as well as jobs for generations in Sault Ste. Marie, Ont.

That’s meant long-term benefits, as the company provided the region with employment and an economic base. But with that has come uncertainty during a number of flirtations with bankruptcy as steel markets gyrated. The use of coal in its blast furnaces triggered climate-warming emissions along with health concerns among nearby residents.

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‘Buy North America’ is Doug Ford’s new mantra as U.S. trade talk worries Canadian premiers – by Kristin Rushowy (Toronto Star – July 17, 2024)

https://www.thestar.com/

With tough protectionist trade talk coming from U.S. presidential candidates, Premier Doug Ford says it’s time to change the message to “buy North America.”

HALIFAX — With tough protectionist trade talk coming from U.S. presidential candidates, Premier Doug Ford says it’s time to change the message to “buy North America.”

“We are facing a lot of challenges in the country, as a new president will be elected (this November) — that was a big conversation,” Ford said on Tuesday after emerging from a day of discussions among all 13 provincial and territorial leaders at the annual Council of the Federation meeting.

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Mining skills shortage looms as Ontario gears up for EV boom – by Darius Snieckus (National Observer – June 4, 2024)

https://www.nationalobserver.com/

Ontario’s mining industry risks a shortfall of over 3,500 skilled green-collar workers by 2040, unless it jump-starts education and training for the new generation of technicians needed as Canada’s critical minerals-hungry electric vehicle (EV) sector gears up this decade, according to a new strategy report unveiled by the government.

The province last week launched its Critical Minerals Talent Strategy, a multi-department initiative developed by the government’s Ontario Vehicle Innovation Network (OVIN) to head off this employment bottleneck as mining deepens its focus on extracting the cobalt, lithium, nickel and other materials key to manufacturing EV batteries.

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Canada’s next EV supply chain plant landing in Port Colborne, Ont. – by Janyce McGregor (CBC News Politics – May 13, 2024)

https://www.cbc.ca/news/politics/

Joint venture between Asahi Kasei Corp., Honda Canada will build Canada’s 1st lithium ion separator plant

The next community set for a massive boost to its local economy as part of Honda Canada’s $15-billion investment to establish a Canadian electric vehicle supply chain will be Port Colborne, Ont.

Company executives are expected to join Prime Minister Justin Trudeau and Ontario Premier Doug Ford, as well as federal Innovation Minister François-Philippe Champagne and Ontario’s economic development minister, Vic Fedeli, and municipal leaders at an official announcement on Tuesday.

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Trudeau and Ford unveil Honda’s plan to build four new factories in Ontario – by Robert BenzieQueen’s Park and Rob Ferguson (Toronto Star – April 25, 2024)

https://www.thestar.com/

The Japanese automaker will have an electric vehicle factory and auto assembly plant in a region where they have been making gasoline-powered cars and trucks since 1986.

This Honda accord is worth a cool $15 billion. Prime Minister Justin Trudeau and Premier Doug Ford announced Thursday that Honda will build four new factories in Ontario, producing 240,000 electric vehicles as the Japanese auto giant expands its footprint.

Fuelled by $5-billion in public money, the expansion will create 1,000 new jobs at Honda, which already employs 4,200 people in Alliston, plus thousands of spinoff positions in parts production and construction of the new facilities.

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Honda makes multibillion-dollar deal to build electric vehicle factory in Ontario: sources – by Alex Ballingall and Robert Benzie (Toronto Star – April 23, 2024)

https://www.thestar.com/

Honda has agreed to establish a new, multibillion-dollar electric vehicle operation in Ontario, according to government sources.

OTTAWA — Japanese automaker Honda has agreed to establish a major new, multibillion-dollar electric vehicle operation in Ontario, according to federal and provincial government sources.

The deal is expected to be announced Thursday at Honda’s existing factory in Alliston, north of Toronto, where the company will reveal plans to bring a “massive project” to Ontario for the manufacturing of electric vehicles, batteries and other components, government sources with knowledge of the situation told the Star.

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Queen’s Park and Ottawa caught off guard by Ford’s delay of EV manufacturing in Ontario – by Robert Benzie and Tonda MacCharles (Toronto Star – April 6, 2024)

https://www.thestar.com/

Ford Canada announced Thursday that it would postpone all electric vehicle production at its Oakville assembly plant by two years until 2027 due to softening demand.

Queen’s Park and Ottawa, which have jointly pledged billions in electric vehicle manufacturing subsidies, were jolted by Ford Canada’s move to delay domestic EV production. Ford Canada announced Thursday it would postpone all electric vehicle production at its Oakville assembly plant by two years until 2027 due to softening demand.

That move came in the wake of the provincial and federal governments ponying up $295 million each in 2020 to boost EV production there. Neither the Prime Minister’s Office nor the federal industry department officials were given any advance warning of the car company’s decision, with officials learning of it in the news.

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