Earlier this month the Canadian federal government announced three new measures for Canadian businesses and entities affected by the tariff dispute between Canada and the United States.
Minister of Finance, the Honourable François-Philippe Champagne, announced a performance-based remission framework for automakers, designed to incentivize continued production and investment in Canada. There is also a limited time remission, a temporary 6-month relief, on goods imported from the U.S. that are used in Canadian manufacturing, to support public health and national security. In addition, the new Large Enterprise Tariff Loan Facility (LETL) is available to eligible large businesses struggling to access market financing from traditional sources. It is now accepting applicants.
This article provides an overview of the federal tariff support programs.
