The Government of Canada has announced $1.5 billion in new funding to support industries affected by U.S. tariffs and strengthen economic resilience.
- $1 billion BDC Program: A new financing program through the Business Development Bank of Canada will support companies that manufacture and export goods containing steel, aluminum, or copper, helping them adapt to tariff pressures.
- $500 million Regional Tariff Response Initiative (RTRI): Additional funding will be distributed via regional development agencies to assist SMEs across all sectors, enabling investments in market diversification, productivity improvements, and competitiveness.
- Ongoing sector support: The government reaffirmed continued assistance for key industries impacted by tariffs, including softwood lumber and forestry.
Overall, the measures aim to help Canadian businesses adjust supply chains, expand into new markets, and remain competitive amid ongoing trade challenges with the United States.