Minister Valdez highlights substantive support for workers and businesses in response to U.S. tariffs

SAINT CATHARINES, ON, Sept. 3, 2026 /CNW/ -- Small businesses are the backbone of Canada's economy, but many are facing the pressure of United States (U.S.) tariffs on the workers they employ, the communities they support and the investments they make. The Government of Canada is taking action to help businesses manage these pressures, protect jobs and keep our economy strong.

Today, the Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism), alongside Chris Bittle, Member of Parliament for St. Catharines, highlighted measures to support Canadian businesses and workers impacted by U.S. tariffs.

These measures are part of a $7.5 billion package of new and enhanced supports for Canadian workers and businesses affected by U.S. tariffs, and they build on the nearly $25 billion in supports the government has provided since the implementation of the unjustified U.S. tariffs.

The package includes the following measures:

• An additional $1.5 billion will be invested through the Regional Tariff Response Initiative, delivered by Canada's regional development agencies (RDA), to help small and medium-sized enterprises manage the pressures related to tariffs. This will include liquidity supports.
• A new $500 million liquidity stream will be introduced under the Business Development Bank of Canada's Pivot to Grow program to help businesses manage immediate cash-flow pressures, in addition to targeted programs for the forestry, steel and aluminum sectors.
• Access to the Business Development Bank of Canada's tariff-related programs will be expanded, with the minimum revenue requirement for applicants lowered to $1 million.
• An additional $2 billion will be invested through the new Canada Strong Diversification Fund to support tariff-affected businesses with shovel-ready projects that support ongoing capital maintenance. This new initiative will work closely with RDA programming for project intake and triage.
• A new suite of $3.5 billion Rapid Response Supports for Workers and Employers will be introduced to help Canadians affected by tariffs. This will enable workers to access income support when they need it through extended and additional EI temporary flexibilities and will support their transition into new opportunities through new investments in training delivered in the workplace and enhancements to JobBank.gc.ca. This will also enable employers to keep their workforce through a difficult period with the help of the new Workforce Retention and Retraining Program.
• New flexibilities will be provided to the Large Enterprise Tariff Loan facility, administered by the Canada Enterprise Emergency Funding Corporation.

The government will continue to assess programs and policies to support businesses that continue to be impacted by tariffs, including expanding the availability of existing measures to newly impacted sectors.

Quotes

"As Canadian businesses and workers face the impact of unjustified U.S. tariffs, our government is ensuring they have access to the support they need to manage pressures, protect jobs and continue investing in their businesses. These measures are aimed at giving Canadian businesses greater certainty and strengthening their capacity to grow at home and compete around the world. By supporting businesses and workers through this period, we are protecting Canada's economic strength today while building a more competitive and resilient economy for the future."
– The Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism)

"Here in the Niagara region and across Canada, our government is taking action to support businesses and workers and strengthen our economy during uncertainty. These new measures will help Canadian businesses access the support they need to protect jobs, make investments and continue to grow. We are focused on creating the conditions for businesses and communities to succeed and on building a strong, competitive Canadian economy for the years ahead."
– Chris Bittle, Member of Parliament for St. Catharines

Quick facts

• The primary objective of the counter-tariffs is to protect Canadian workers, producers and manufacturers harmed by U.S. tariffs by putting them in a better competitive standing against U.S. products in the Canadian market.
• Goods subject to 50% counter-tariffs include steel and aluminum products, which were previously only subject to a 25% counter-tariff, furniture, and clothing and apparel.
• Goods subject to 25% tariffs include appliances, dairy products (such as cheese), fish and seafood, and certain steel and aluminum derivative products.
• Other existing counter-tariffs against the U.S., including on autos, remain in place, and Canada's tariff remission framework also remains available to assess requests for exceptional relief.
• The Canada Strong Diversification Fund will be administered through the Strategic Response Fund, helping firms adapt and thrive in the face of trade disruptions.
• Since September 2025, the Government of Canada has supported major investments through the Strategic Response Fund (SRF) to increase Canada's industrial capacity, secure critical supply chains and position Canadian firms to compete globally.
• These investments are helping Canada build stronger domestic supply chains, attract private-sector investment, create and maintain highly skilled jobs, and reinforce Canada's economic sovereignty in strategic sectors.

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SOURCE Innovation, Science and Economic Development Canada

Contacts: Erin Quevillon, Press Secretary, Office of the Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism), [email protected]; Media Relations, Innovation, Science and Economic Development Canada, [email protected]