Canada did not choose this trade conflict, but we will continue to stand up for Canadian workers, farmers, families, and businesses.
On August 25, the Government of Canada announced $7.5 billion in new and enhanced measures to help Canadian businesses and workers manage the impact of unjustified U.S. tariffs. This builds on nearly $25 billion in support already provided since the tariffs were introduced.
Canada is taking a focused approach that protects our economy while supporting businesses through this period of uncertainty. As of September 8, Canada is applying dollar-for-dollar, rate-for-rate counter-tariffs on $27.6 billion worth of U.S. imports, targeting products and sectors affected by U.S. tariffs.
The new $7.5-billion support package includes:
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$1.5 billion in additional funding through the Regional Tariff Response Initiative to help small and medium-sized businesses manage tariff-related pressures, including liquidity needs.
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$500 million in new financing through the Business Development Bank of Canada's Pivot to Grow program to help businesses manage immediate cash-flow pressures.
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Broader access to tariff-related business supports, with the minimum revenue requirement for eligible businesses lowered to $1 million.
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$2 billion for the Canada Strong Diversification Fund to support tariff-affected businesses and shovel-ready projects that strengthen their ability to adapt and grow.
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$3.5 billion in Rapid Response Supports for Workers and Employers, including additional Employment Insurance flexibilities, workplace training, improved access to job opportunities, and support for employers to retain and retrain their workers.
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New flexibilities for large businesses through the Large Enterprise Tariff Loan facility.
These measures are designed to provide practical support where it is needed most — helping businesses maintain operations, protect jobs, manage cash-flow pressures, and find new opportunities.
This support is part of a broader effort to build a stronger, more resilient, and more diversified Canadian economy. By supporting Canadian businesses and workers today, we can help ensure that our communities are well positioned to grow and compete in the years ahead.
The Government of Canada will continue to monitor the impact of tariffs and adjust its programs and supports as needed. We will keep working to protect Canadian jobs, strengthen our economy, and stand up for Canada's interests.