Carney announces supports for sectors affected by U.S. tariffs
OTTAWA — Prime Minister Mark Carney says his government is launching a suite of new measures to support sectors hit hardest by U.S. tariffs.
Friday’s announcement includes $5 billion for a new fund to help companies in all tariff-affected sectors.
Carney says he’s also introducing a “Buy Canadian” policy for the federal government, new supports for the canola sector and a one-year delay to the electric vehicle sales mandate.
The government says it is expanding support and loans for small and medium businesses, and introducing new measures to help workers acquire new skills.
Carney says Canada can’t rely on trade with the U.S. as it did in the past, and his government’s new industrial strategy will build an economy that is more resilient to global shocks.
The Liberal government is in the midst of trade talks with the administration of U.S. President Donald Trump, which has imposed tariffs on much of the world.
This report by The Canadian Press was first published Sept. 5, 2024.
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