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City of Toronto Media Relations has issued the following:
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News Release

March 17, 2025

City of Toronto protects local economy with new Mayor’s Economic Action Plan in response to US tariffs

Today, Mayor Olivia Chow, along with members of the Mayor’s Economic Action Team, announced a new action plan to support and safeguard Toronto’s economy in the wake of tariff measures from the United States.

The release of City of Toronto United States Tariff Response: A Strategy to Protect Toronto Businesses, Workers and Residents took place at Fire Station 334 to highlight Toronto Fire Services’ new commitment to prioritize the procurement of Canadian-made fire apparatus and personal protective equipment, a key example of how the City is leveraging its purchasing power to strengthen local supply chains.

The Mayor’s Economic Action Plan is presented as part of a City of Toronto staff report that puts forward a comprehensive plan to mitigate the impact of new U.S. tariffs on Toronto businesses, workers and residents. The staff report will be considered by the City’s Executive Committee on Wednesday, March 19, followed by Toronto City Council at the end of the month (https://secure.toronto.ca/council/agenda-item.do?item=2025.EX21.2).

Tariffs on all Canadian goods are expected to take effect on April 2, while tariffs on steel and aluminum and other exports are already in place and affecting businesses. These trade measures are creating significant uncertainty for Toronto’s economy, which accounts for 25 per cent of Ontario’s GDP and facilitates approximately $123 billion in trade with the U.S. annually.

Building on Sidewalks to Skylines: Action Plan for Toronto’s Economy (toronto.ca/city-government/accountability-operations-customer-service/long-term-vision-plans-and-strategies/action-plan-toronto-economy/), the Action Plan accelerates key initiatives to address the immediate and long-term impacts of rising U.S. protectionism.

Short-term actions for immediate relief
The report outlines that over the next 30 days, the City will implement 10 actions to support businesses, protect workers and strengthen Toronto’s economy. Key measures include:
• Prioritizing Canadian suppliers in City procurement to support local businesses
• Deferring property taxes for industrial properties to provide cashflow relief
• Launching a “Love Local” campaign to encourage residents and businesses to choose Canadian-made goods and services
• Providing dedicated supports and promotional efforts for Toronto’s manufacturing and industrial sector
• Partnering with regional municipalities and the Province to reduce reliance on U.S.-based suppliers
• Expanding global markets for Toronto businesses through industry and export development partnerships
• Supporting technology adoption for businesses to increase competitiveness.
• Increasing procurement opportunities for Indigenous, Black and diverse suppliers and social enterprises
• Helping businesses prepare for economic and technological disruptions related to tariffs
• Directing City staff spending toward Canadian-owned and local businesses.

Procurement policy amendments
To support Canadian businesses and reduce exposure to U.S. tariffs, the report proposes amendments to the City’s procurement bylaw, ensuring Canadian suppliers receive priority in competitive bidding processes. Key changes would include:
• New City competitive contracts under $353,300 for goods/services and $8.8 million for construction will be awarded exclusively to Canadian suppliers, in line with the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the terms to which the City is bound
• American-based suppliers may be deemed ineligible to bid on new competitive contracts when it is in the City’s best interest
• Increased supplier outreach programs to find local alternatives for key goods, such as construction materials, technology, municipal water equipment and paramedic supplies
• Expansion of procurement opportunities for Indigenous, Black and diverse suppliers to increase participation under the City’s Social Procurement Policy.

Industrial Property Tax Deferral Program
To help industrial businesses absorb the financial impact of tariffs, the staff report proposes an Industrial Property Tax Deferral Program. This initiative allows eligible industrial property owners to defer tax payments from June 1 to November 30, 2025 without incurring late fees or interest charges. Key details of the program include:
• Eligibility for industrial property owners experiencing significant financial hardship due to tariffs
• No penalties or interest on late payments during the six-month deferral period
• Estimated program cost of $300,000 to $750,000, offset against budgeted tax revenues
• Application-based process with approval criteria based on financial impact assessments.

The City is actively working with the Government of Canada and the Province of Ontario to align efforts under a Team Canada approach, ensuring a unified response to U.S. protectionist policies.

Quotes:

“People are feeling anxious about a senseless and harmful U.S. trade war - they are worried about their jobs and the rising cost of living. Toronto’s Economic Action Plan will protect businesses and workers while building a more resilient economy. We stand united as proud Canadians. Toronto will emerge stronger than ever.”
– Mayor Olivia Chow

“Toronto’s response to U.S. tariffs isn’t just about reacting—it’s about taking real action. We’re stepping up with concrete measures like shifting procurement, providing tax relief and putting strategic protections in place to keep our local businesses strong. This plan is about making sure Toronto stays competitive, our industries stay resilient and our workers stay secure.”
– Councillor Shelley Carroll (Don Valley North), Mayor’s Economic Development and Culture Champion, Vice Chair for Mayor’s Economic Action Team

“Small businesses and local workers are the heart of our neighbourhoods. This plan ensures that Toronto’s communities—especially those with small manufacturers, family-run shops and local suppliers—get the support they need. We are standing with our businesses, helping them stay strong and reinforcing Toronto’s position as a city that supports its own.”
– Deputy Mayor Ausma Malik (Spadina-Fort York)

“We are committed to ensuring the safety and well-being of our residents, and we recognize the critical role that high-quality, reliable apparatus and personal protective equipment play in our emergency response efforts. We proudly support Canadian-made and supplied equipment, as it meets the high standards required to keep our first responders safe and effective. By continuing to invest in these trusted resources, we strengthen our commitment to public safety and the resilience of our emergency services.”
– Jim Jessop, Fire Chief and General Manager, Toronto Fire Services

Toronto is home to more than three million people whose diversity and experiences make this great city Canada’s leading economic engine and one of the world’s most diverse and livable cities. As the fourth largest city in North America, Toronto is a global leader in technology, finance, film, music, culture, innovation and climate action, and consistently places at the top of international rankings due to investments championed by its government, residents and businesses. For more information visit www.toronto.ca or follow us on X at x.com/cityoftoronto, on Instagram at www.instagram.com/cityofto or on Facebook at www.facebook.com/cityofto.

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Media contact: Media Relations, media@toronto.ca

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