Canada’s budget proposes C$44 billion (about $31.3 billion) in tariff aid
Prime Minister Mark Carney unveiled his first budget on 5 November, seeking greater economic independence from the United States.
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Prime Minister Mark Carney unveiled his first budget on 5 November, seeking greater economic independence from the United States.
Canada’s budget proposes setting aside C$44 billion (about $31.3 billion) for businesses and workers affected by tariffs, France 24 said. The allocation is a budget proposal, not a payment already made.
Prime Minister Mark Carney unveiled his first budget on 5 November. It sets out an ambition for greater economic independence from the United States.
The proposal follows a separate announcement by Canada’s Department of Finance in August that it was introducing C$7.5 billion (about $5.3 billion) in new and enhanced support for workers and businesses affected by US tariffs.
The earlier package included help for small and medium-sized businesses facing cash-flow pressures. It also included temporary employment insurance measures, workplace training and a program intended to help employers retain staff.
The captured report does not specify eligibility for the new budget proposal or how its allocation would be divided.
The additional 50% tariff was removed from some Canadian machinery and packaging products on 30 October and extended to other goods, including certain waste products.
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The White House says selected machinery, paper products and packaging will be exempted, while certain valves, carpets and waste products will be added to the tariff list.
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The governments plan five years of funding for steelmakers and automakers facing US tariffs.
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