On March 7, 2025, the federal government issued a news release whereby its stated that it will use every tool at its disposal so Canadian businesses and workers can weather the storm stemming from the imposition by the United States’ administration of unjustified tariffs on Canada.
According to the Department of Finance (“DoF”), to support Canadian businesses and ensure they have the liquidity they need through this turbulent time, the following measures are proposed:
- Launching the Trade Impact Program through Export Development Canada. The program will deploy $5 billion over two years, starting this year, to help exporters reach new markets for Canadian products and help companies navigate the economic challenges imposed by the tariffs, including losses from non-payment, currency fluctuations, lack of access to cash flows, and barriers to expansion.
- Making $500 million in favourably priced loans available through the Business Development Bank of Canada to support impacted businesses in sectors directly targeted by tariffs, as well as companies in their supply chains. Businesses will also benefit from advisory services in areas such as financial management and market diversification.
- Providing $1 billion in new financing through Farm Credit Canada to reduce financial barriers for the Canadian agriculture and food industry. This lending offer will help address cash flow challenges so that businesses can adjust to a new operating environment and continue to supply the high-quality agricultural and food products that Canadians rely on.
Along with supporting businesses, the DoF is also introducing temporary flexibilities to the EI Work-Sharing Program to increase access and maximum agreement duration.
https://www.canada.ca/en/department-finance/news/2025/03/fighting-for-canadian-workers-and-businesses.html