U.S. President Donald Trump recently criticized an Ontario government advertisement, claiming it was misleading. However, he targeted the wrong ad. The ad in question featured former President Ronald Reagan's remarks against tariffs during the World Series. Meanwhile, viewers also saw a bright and optimistic commercial promoting the Ontario government’s focus on mining in the Ring of Fire, a mineral-rich area in Northern Ontario.

The ad depicted workers in hard hats at a construction site and a mine, suggesting that operations were underway. In reality, the Ring of Fire, located 500 kilometers northeast of Thunder Bay, lacks essential infrastructure such as roads and power lines. Although the Ontario government secured cooperation from one Indigenous group in the area, other groups remain opposed to development. Experts indicate that even in the best-case scenario, any mining activity is years away.

Despite its appealing name, the Ring of Fire is not expected to become Ontario's most significant mining area. Its future production value is projected to be much lower than that of existing gold mines. The ad's voiceover claims, "Canada faces economic uncertainty, we have a plan to secure our future and it starts in the Ring of Fire." Critics argue that relying on future mining operations as a foundation for economic stability is misguided.

The Ontario government initially hoped that minerals from the Ring of Fire would supply electric vehicle battery plants, for which it has committed billions in taxpayer funding. However, Trump's recent comments on the Canadian auto industry and electric vehicles have raised doubts about this plan. Critics suggest that the government's economic strategy lacks ambition, relying heavily on subsidies to attract foreign companies.

For instance, Belgian company Umicore SA planned to establish a battery materials plant in Ontario, backed by a $424 million subsidy from the provincial government and an additional $551 million from the federal government. However, the project has faced delays due to market uncertainties. This raises questions about Ontario's competitiveness compared to smaller countries like Belgium.

Economic success in Ontario is often measured by job creation rather than the development of exportable products. This approach could lead to an unstable economy, as foreign companies may leave for better offers elsewhere.

Another significant project in Ontario involves the construction of four small modular nuclear reactors (SMRs), which would be the first of their kind in a G7 country. The total cost is estimated at $20.9 billion, with the provincial government contributing $1 billion and the federal government $2 billion. Ontario promotes these reactors as a sign of economic leadership and potential for export. However, the technology is owned by GE Vernova Hitachi Nuclear Energy, an American company, which raises concerns about Ontario's role in the project.

Ontario Power Generation has secured a deal with a Polish company to provide project management and advisory services for the SMRs, but critics argue that this merely positions Ontario as a customer rather than a leader in nuclear technology.

To secure a manufacturing future, Ontario must reassess its economic strategies. Currently, the province accounts for about 45 percent of Canadian manufacturing, but much of it relies on government subsidies and uncertain investments. A more strategic approach is needed to determine what products Canada should produce for self-sufficiency and how Ontario can contribute.

Relying on foreign companies to dictate production in Ontario, while subsidizing their operations, may not be sustainable. Without ownership of innovative ideas, Ontario risks being dependent on external entities for its economic future.