Minister of Industry M茅lanie Joly rises during question period in the House of Commons on Parliament Hill in Ottawa on Wednesday, April 29, 2026. THE CANADIAN PRESS/Justin Tang
Minister of Industry M茅lanie Joly rises during question period in the House of Commons on Parliament Hill in Ottawa on Wednesday, April 29, 2026. THE CANADIAN PRESS/Justin Tang
OTTAWA - The federal government is announcing $1.5 billion in tariff relief in response to the United States widening its tariff criteria last month.
The announcement includes the creation of a new $1 billion program under the Business Development Bank of Canada to bolster the manufacturing sector, and a $500 million top-up to the regional tariff response fund.
The new development bank programming is meant to shore up factories hit by U.S. tariffs affecting exports of products containing steel, aluminum and cooper.
It will make available three-year, low-interest loans of up to $50 million to tariff-hit businesses.
Industry Minister M茅lanie Joly announced the federal funding today at a manufacturing facility southeast of Ottawa.
Joly says while the government must act to provide businesses with liquidity in the short term, it鈥檚 also pursuing a broader medium-term strategy to help exporters adapt and move into new markets.
This report by 国产诱惑福利 was first published May 4, 2026.
