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Market Chatter: Ontario To Spend Tens of Millions In U.S. Ad Campaign As Trump Pledges Tariffs
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Market Chatter: Ontario To Spend Tens of Millions In U.S. Ad Campaign As Trump Pledges Tariffs
Nov 27, 2024 2:11 PM

04:47 PM EST, 11/27/2024 (MT Newswires) -- The Ontario government is launching a multimillion dollar advertising campaign in the United States highlighting that country's close economic ties with the province and the future possibilities between the two, as incoming president Donald Trump vows massive trade tariffs against Canada and Mexico, The Globe and Mail newspaper is reporting Wednesday.

It noted the ads for the campaign, which launches Monday, were filmed before the U.S. election as the province sought to get ahead of a further shift toward protectionist trade policies regardless of who won, according to a senior Ontario government source. The Globe and Mail is not identifying the source because they are not authorized to speak publicly about the campaign before it debuts.

The budget for the campaign is in the tens of millions of dollars and was always planned to start next week, the source said. The ads will highlight the strong trading relationship between Ontario and the U.S., focusing on benefits of that relationship including job creation, critical minerals and energy.

Ontario is the third-largest export destination for the U.S. and the top trading partner for 17 states. On Monday, Mr. Trump vowed to impose 25% tariffs on all imports from Canada and Mexico as he demanded the two countries take steps to stop the flow of migrants and fentanyl into the United States.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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