Canada’s Secretary of State for Small Business and Tourism, Rechie Valdez, outlined measures on September 3 to support workers and companies affected by U.S. tariffs. The federal government described the measures as part of a C$7.5-billion package of new and enhanced supports.

The package includes an additional C$1.5 billion for the Regional Tariff Response Initiative, a new C$500-million liquidity stream under the Business Development Bank of Canada’s Pivot to Grow programme and a C$2-billion Canada Strong Diversification Fund. Canada also lowered the minimum revenue requirement for tariff-affected firms applying to BDC programmes to C$1 million. The announcement does not guarantee individual allocations or quantify the effect of tariffs on each firm.