Ven. Gen 31st, 2025

Southwestern Ontario may be Ground Zero for the impact U.S. tariffs would have on the provincial economy, national economists warned.Published Jan 31, 2025  •  Last updated 5 hours ago  •  5 minute read Join the conversation A car carrier leaves the Stellantis Windsor Assembly Plant with new Pacifica models on Monday, Feb. 26, 2024. (Dan Janisse/Postmedia Network)Southwestern Ontario may be Ground Zero for the impact U.S. tariffs would have on the provincial economy, national economists warn.Article contentArticle contentThe region, heartland for automotive manufacturing and agriculture and food, would bear the brunt of the loss of 500,000 jobs forecast as a result of 25 per cent tariffs threatened by U.S. President Donald Trump on Canadian-made goods sold into the U.S.Advertisement 2Story continues belowThis advertisement has not loaded yet, but your article continues below.Sign In or Create an Accountor View more offersArticle contentThe threat to impose tariffs as soon as Saturday has sparked an Ontario election call and is forcing Ontario’s major political parties to define themselves on the critical issue.“The two largest exporters are food and the auto sector, they are the most exposed,” said Alan Arcand, chief economist with the Canadian Manufacturers and Exporters that represents 2,500 companies.The Canadian automotive industry sells 75 per cent of its goods to the U.S., compared to 45 per cent for all areas of manufacturing.“The auto sector is the most vulnerable,” Arcand said.The Ontario Finance Ministry forecasts the province would lose 500,000 jobs if the U.S. implements tariffs. Arcand said he agrees with the projection as does Richard Forbes, principal economist with the Conference Board of Canada.Forbes also agrees the automotive sector, followed by agri-food and the chemical sector, would bear the brunt of the tariff pain.“It will be a huge hit for the (automotive) industry,” he said. “Agri-food is a big one as well. A lot of people are interested in cars but agri-food is a growing industry and it is exposed in the U.S.”Homes in LondonFor buyers, sellers, renters and dreamers — London’s complex, fascinating real estate market is brought into focus and into context with this newsletter.By signing up, you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don’t see it, please check your junk folder.The next issue of Homes in London will soon be in your inbox.We encountered an issue signing you up. Please try againArticle contentAdvertisement 3Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentOntario Economy$865 billion8.1 million workersThe Canadian Chamber of Commerce recently reported a 25 per cent tariff would cut Canada’s GDP, the value of goods made here, by about 2.6 per cent. The Conference Board has forecast GDP growth this year in Canada of about 1.5 per cent m