Carney Launches New Tariff-Protection Programs Worth Billions
Prime Minister Mark Carney has unveiled a sweeping package of measures aimed at protecting Canadian workers and businesses from the growing impact of U.S. tariffs and global trade disruptions.
The new strategy includes a $5-billion Strategic Response Fund to help firms in affected sectors adapt, diversify, and expand, supported by newly created Workforce Alliances to align training with industry needs. Up to 50,000 workers will be eligible for a reskilling program, with expanded Employment Insurance flexibility and a new digital jobs and training platform.
A Buy Canadian Policy will direct federal procurement toward domestic suppliers, extend requirements across Crown corporations and federal funding streams, and encourage provinces and municipalities to adopt similar standards.
Immediate relief measures include expanded Business Development Bank of Canada loans of up to $5 million for small and medium-sized enterprises, more flexible financing for larger firms, and targeted support for the auto sector, including exemptions for certain 2026 model year vehicles from electric vehicle requirements.
Agriculture producers will see a $370-million biofuel incentive, amendments to Clean Fuel Regulations, a temporary increase to $500,000 for interest-free canola advances, and expanded AgriMarketing Program funding to diversify exports.
A $1-billion Regional Tariff Response Initiative will also be launched to provide non-repayable contributions to businesses in agriculture, seafood, and other sectors affected by tariffs.
The Carney government has launched the Major Projects Office, headquartered in Calgary, to fast-track nation-building projects under legislation.
“We cannot control what other nations do,” said Carney in a statement. “We can control what we give ourselves – what we build for ourselves. Canada is building the strongest economy in the G7, one that is less reliant on foreign powers and more resilient in the face of global shocks. In the face of uncertainty around the world, we are ensuring that our workers and businesses will prosper by building Canada’s strength at home.”
The Canadian Manufacturers and Exporters Association praised the creation of the reskilling initiative, Strategic Response Fund and Buy Canadian policy. The CME wants the measures to be implemented quickly.
The Canadian Labour Congress also lauded the moves and pledged to work together with Ottawa on them. But CLC President Bea Bruske said more must be done to guard against the impact of tariffs on Canadian steel and aluminum products.
Pictured: Semi-truck with a load of softwood lumber heading toward a Canada-U.S. border crossing.
Photo: Shutterstock
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