By Barry Ellsworth
TRENTON, Canada (AA) - Canada is stepping up with a more than $6 billion ($4.17 billion) financial program for those hurt by US tariffs, the federal government announced at a news conference Friday.
“We are deeply committed to supporting Canadian businesses and workers in the face of the unjustified and unreasonable tariffs the United States has imposed on Canadian goods,” Finance Minister Dominic LeBlanc said in a statement.
Called “Fighting for Canadian workers and businesses,” the plan is aimed at stabilizing the Canadian economy from the expected devastating damage that would be done by US President Donald Trump’s tariffs. The latest announcement was that 25% tariffs on some Canadian goods imported to the US have been given a reprieve until April 2.
The constant tariff turmoil of off-again, on-again announcements was labeled “psychodrama” earlier this week by Foreign Affairs Minister Melanie Joly.
Under the plan, businesses will be able to access $5 billion in aid over two years as they try to find new markets outside the US. The government has also created a $500 million loan program through its development bank.
Farmers are on the help support list, too, with $1 billion in a new program for agriculture.
Workers who are laid off or forced into part-time employment will be able to access partial unemployment benefits.
“The measures announced today as part of our Team Canada response will protect jobs, keep businesses open, and help stabilize Canada’s economy,” said LeBlanc.