Ontario Could Lose 68,000 Jobs This Year, See ‘Modest Recession’ Due to US Tariffs: Report

The American and Canadian flags fly at the Ambassador Bridge border crossing in Windsor, Ont., on Feb. 9, 2022. Geoff Robins/AFP via Getty Images

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.