Standing Up for Canadian Workers and Businesses: Responding to New U.S. Tariffs
The situation with the United States remains uncertain, but our federal government is focused on what matters most: protecting Canadian workers, supporting our businesses, and keeping our economy strong.
After intensive negotiations, Canada has suspended talks with the United States because the latest proposals were not in Canada’s best interests. The Prime Minister has been clear that the Canadian government will continue to work toward a fair deal, but Canada will not accept an agreement that puts Canadian jobs, businesses, or key industries at risk.
In response to new U.S. tariffs, the federal government will introduce matching counter-tariffs on $27.6 billion worth of U.S. imports, effective September 8. The measures will focus on sectors most affected by U.S. tariffs, including steel, dairy, agriculture, appliances, pulp and paper, and electronics. The goal is straightforward: to give Canadian businesses a fair chance to compete in our own market.
To help workers and businesses navigate this period of uncertainty, the federal government has announced $7.5 billion in new and enhanced support for those affected by the tariffs. This includes financing and liquidity support for businesses, help for affected industries, and measures to help workers stay employed, access income support, and find new opportunities.
Canada is entering this period from a position of strength. We have the lowest net debt-to-GDP ratio in the G7, the second-fastest-growing economy in the G7, and a AAA credit rating.
The Canadian government didn’t choose this trade conflict, but will continue to stand up for Canadians, support our communities, and protect the jobs and businesses that keep our economy moving.
More details are available in the following links:
• Support for Canadian workers and businesses affected by U.S. tariffs – Canada.ca