Federal funding to aid tariff-impacted small business

Small and medium-sized businesses in Northern Ontario can now apply for funding to provide relief from hardship experienced due to U.S. trade tariffs.

On Sept. 19, the federal government launched the Regional Tariff Response Initiative, a $1-billion national program expected to help businesses boost productivity, diversify markets, strengthen supply chains, and grow domestic trade, helping businesses stay competitive and resilient in a shifting global landscape.

In Northern Ontario, the program will be administered by FedNor.

More information about the program, including how to apply, is available here.

The Regional Tariff Response Initiative is part of a broader suite of measures introduced by the federal government to ensure “trade resilience.”

They include: 

a reskilling package to train workers impacted by tariffs and global market shifts;
temporary changes to Employment Insurance, including waiving the one-week EI waiting period and providing 20 extra weeks of income support;
a five-year, $382-million investment to develop and implement tailored workforce development strategies; and
a new buy-Canadian policy that will require the federal government to buy from Canadian suppliers, or require local content when domestic suppliers are unavailable.

The full list of measures is available here.

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