Ontario could lose more than 68,000 jobs by the end of this year due to U.S. tariffs, according to a new report from the province’s financial watchdog.
Jobs losses could reach 137,900 over the next several years, according to the Financial Accountability Office of Ontario (FAO), which provides independent financial and economic analysis for the provincial legislature.
The FAO released its report entitled The Potential Impact of US Tariffs on the Ontario Economy on April 30, reviewing the outcome on the province’s economy and jobs from various tariff scenarios.
Using tariffs announced on April 17, including U.S. levies on steel, aluminum, vehicles, and parts, as well as Canadian retaliatory tariffs, the report examined the impact the tariffs could have over the next several years….