Tariff response: Government of Canada invests close to $64M to help SMEs in steel sector overcome current challenges

CED supports close to 100 businesses across Quebec so they can remain competitive in uncertain and changing market conditions.

REPENTIGNY, QC, April 7, 2026 /CNW/ - Canada Economic Development for Quebec Regions (CED)

The Honourable Mélanie Joly, Minister of Industry and Minister responsible for CED, along with Tim Watchorn, Member of Parliament for Les Pays-d'en-Haut, and Madeleine Chenette, Member of Parliament for Thérèse-De Blainville, Parliamentary Secretary to the Minister of Canadian Identity and Culture and Minister responsible for Official Languages and Parliament Secretary to the Secretary of State (Sport), today announced a total of $63,969,920 in financial assistance for 99 Quebec SMEs in the metal processing industry affected by tariffs. This funding will help them overcome challenges to commercialization and to transform in order to remain competitive in the long term. The global economy has changed, and the Government of Canada is responding with determination and strength to protect Canadian workers and businesses.

Minister Joly took some time while in Repentigny to visit CSF International, a Lanaudière business receiving CED support in the form of a $1-million non-repayable contribution to acquire equipment. This strategic investment will enable the business to accelerate a project aimed at increasing its productivity and strengthening its competitiveness, while also supporting its growth and presence on international markets.

The full list of projects receiving funding as part of today's announcement and details on CED's investment are available for consultation in the related backgrounder. Through these projects, over 1100 well‑paid jobs will be created or maintained across Quebec.

In the current economic climate, the Government of Canada is focusing on structural measures to strengthen the Canadian economy. It is taking action by supporting businesses as they diversify their markets in order to reduce risk, strengthen their economic resilience and consolidate their competitiveness to help them face tariff pressures. By supporting workers and businesses in strategic sectors, the Government of Canada is helping to build a more resilient economy capable of better adapting to market fluctuations for the benefit of the entire country.

Quotes

"In the face of unjustified and unjustifiable tariffs hitting Canadian businesses hard, our government is taking concrete action to support Quebec SMEs. By leveraging productivity, innovation and market diversification, we are giving them the means to strengthen their supply chains and remain competitive in an uncertain commercial climate. Thanks to the Regional Tariff Response Initiative, we are investing in the steel sector, which is of strategic importance to the Canadian economy and to the resilience of our regions."

The Honourable Mélanie Joly, Member of Parliament for Ahuntsic–Cartierville, Minister of Industry and Minister responsible for CED

"Our businesses are demonstrating exceptional resilience in the face of today's economic challenges. The support announced by CED today for CFS International and 98 other SMEs in Quebec will give them the means to improve their productivity, diversify their markets and consolidate their position here at home and on the international stage. By boosting their growth, we will strengthen our regions' economic vitality."

Tim Watchorn, Member of Parliament for Les Pays-d'en-Haut

Quick facts

• Funding has been granted under the Regional Tariff Response Initiative (RTRI), which is part of CED's Regional Economic Growth through Innovation (REGI) program.
• The RTRI aligns with a broader Government of Canada tariff response plan, which includes over $6.5 billion in new measures to protect Canadian businesses and workers, including an expansion of the Strategic Innovation Fund, labour market development agreements, and the Large Enterprise Tariff Loan facility.
• The aim of this national initiative is mainly to help SMEs negatively affected by tariffs to overcome their challenges to commercialization and to transform in order to remain competitive in the long term. With a budget of $1 billion over three years, the RTRI makes it possible to provide SMEs with non-repayable contributions of up to $1 million.
• CED is the key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.

Associated links

• Regional Tariff Response Initiative
• Prime Minister Carney announces new measures to protect and strengthen Canada's steel industry
• Government of Canada tariff response
• CED financing and services

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SOURCE Canada Economic Development for Quebec Regions

Information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Gabrielle Landry, Deputy Director, Media Relations, Office of the Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, [email protected]