Prime Minister Mark Carney and Ontario Premier Doug Ford announced an $8.7-billion support package on Wednesday for Canada's steel, critical minerals and auto industries, CBC News reported. The industries have been hit by U.S. tariffs.

The largest piece is a steel fund. Ottawa will put in $3.55 billion and Ontario $1.67 billion over five years, CBC News and The Globe and Mail reported. Carney said the money would help mills upgrade and sell to new markets. "When Canadian projects need specialized steel, they can increasingly count on Canadian mills, and Canadian steelworkers, to supply it," he said.

Autos get $2.5 billion over two years, CBC News reported. Ottawa pays $1.5 billion and Ontario $1 billion. Ottawa will also spend $1 billion over three years on a road to the Ring of Fire. That matches Ontario's money for the mining region.

Ottawa also said it would keep car emission rules at 2026 levels through the 2029 model year, CBC News reported. Brian Kingston leads a group of carmakers. He said the change would bring "some relief." Carney said the U.S. approach to the auto sector "has changed, and so must ours."

The Globe and Mail said it was not clear how much of the steel money is new. It said car exports to the U.S. are down more than 10%. Trade talks broke down in August, it said.

Ford said the relationship with the U.S. has changed for good. "No matter what happens in the midterms, no matter who sits in the White House, we're not going back to the way things were, and we need to plan accordingly," he said, according to The Globe and Mail.

All amounts are in Canadian dollars. The plan aims to protect jobs while U.S. tariffs stay in place. No date was given for when the first money would flow.

What we know: Ottawa and Ontario have pledged $8.7 billion for steel, autos and the Ring of Fire road.
What we don't: How much of the money is new, and whether it will change U.S. trade talks.