The federal government has unveiled new measures to support Canadian businesses impacted by the ongoing trade dispute with the United States.
Finance Minister François-Philippe Champagne announced that Canada will provide a temporary six-month tariff relief for certain goods imported from the U.S. These include products used in Canadian manufacturing, food and beverage packaging, and processing sectors.
The exemption will also cover imports that support public health, health care, public safety, and national security.
As part of the plan, automakers that maintain vehicle production in Canada will be allowed to import a limited number of U.S.-assembled vehicles, compliant with CUSMA regulations, without facing countermeasure tariffs. However, companies may see this quota reduced if they scale back production or investment in Canada.
Minister Champagne also confirmed that the Large Enterprise Tariff Loan Facility, announced earlier in March, is now officially open for applications.
