Canada is boosting a financial program with more than $6 billion for those affected by the U.S. tariffs, the federal government announced at a news conference Friday.
“We are deeply committed to supporting Canadian businesses and workers facing unjustified and unreasonable tariffs imposed by the United States on Canadian goods,” said Finance Minister Dominic LeBlanc.
Called “Fighting for Canadian Workers and Businesses,” the plan aims to stabilize the Canadian economy from the expected devastating damage that U.S. President Donald Trump’s tariffs would inflict.
The latest announcement is that 25 percent tariffs on some Canadian goods imported into the United States have been delayed until April 2.
Under the plan, businesses will be able to access $5 billion in assistance over two years as they try to find new markets outside the United States. The government has also created a $500 million loan program through its development bank.
Farmers are also on the list of support, with $1 billion in a new agricultural program.
Workers who have been laid off or forced to work part-time will be able to receive partial unemployment benefits.
“The measures announced today as part of our Team Canada response will protect jobs, keep businesses open and help stabilize the Canadian economy,” LeBlanc said, AA writes.
