This is How We're Standing Up for Canada
Our government is $7.5 billion in new measures to support workers and businesses, building on nearly $25 billion in existing supports
Our government is focused on ensuring that our businesses and workers are supported. To support Canadian workers and businesses impacted by U.S. tariffs, our government is introducing a $7.5 billion package of new and enhanced measures, which builds on the nearly $25 billion in supports that the government has provided since the implementation of the United States’ unjustified tariffs.
Support for Businesses
Regional Tariff Response Initiative
In order to better support businesses, the Regional Tariff Response Initiative was created to provide a $1.5 billion boost for small and medium-sized businesses facing tariff-related pressures, including a contribution cap increased from $1 million to $ 3 million, including $2 million in liquidity support.
BDC Pivot to Grow
The BDC Pivot to Grow program is being expanded to include a new $500 million liquidity stream to provide capital to businesses impacted by the tariffs by giving businesses access to loans from $250,000 to $5 million with interest-only payments for 36 months and simplifying the application process. The annual revenue threshold for tariff related BDC programs has been reduced to $1 million which broadens access to financing for smaller businesses including those in the steel, aluminium and forestry sectors.
Canada Strong Diversification Fund
The Canada Strong Diversification Fund is a new $2 billion fund under the Strategic Response Fund to support tariff-impacted businesses, including a fast-track approval process and coordination with Regional Development Agencies to accelerate project delivery.
Large Enterprise Tariff Loan Facility (LETL)
The Large Enterprise Tariff Loan Facility (LETL) offers enhanced flexibility under then $10 billion CEEFC-administered loan program to support large employers affected by tariff uncertainty, with support coverage increased from 24 to 36 months and maximum loan terms extended from 10 to 15 years.
Supports for Workers
To better directly support our workforce, temporary EI measures will be extended to help workers affected by tariffs including;
Waiving the one-week waiting period, allowing EI access before separation payments are exhausted
Providing an additional 20 weeks of regular EI benefits for long-tenured workers
For the period of one year, workers who voluntarily left a previous job will not be penalized when applying for EI, providing their most recent job loss was through no fault of their own
There will be increased investments in JobBank.gc.ca to better connect workers with employment opportunities.
A new streamlined program called the Workforce Retention and Retraining Program, which combines the EI Work-Sharing Program and the Worker Retention Grant to help employers retain workers during tariff related disruptions. Additionally, employers who are participating in this program will be eligible for additional funding up to $1000 per participant to cover training and administrative costs that are associated with helping business maintain and upskill their workforce.
Resources
The CUSMA compliance and export resources provides tools and guidance to help businesses understand tariff obligations and access preferential tariff treatment under CUSMA. The Canada Business App is a free app that helps businesses access government programs, services, grants and support for information in one place.
The Online Support Finder offers a centralized resource to help Canadian workers and employers find available federal supports and programs related to U.S. tariffs.
Together, we can continue to build strength here at home by supporting our workers, businesses, farmers and families. I encourage everyone to learn more about these supports and share their views.
Emma Harrison
Member of Parliament
Riding of Peterborough
