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4w ago

Ottawa Earmarks $80 Million for Atlantic Canada From Tariff Response Fund

The regional allocation from a $1 billion initiative targets small firms, including seafood processors.

Prime Minister Mark Carney made an announcement at the Newdock shipyard in St. John's on Monday.
Prime Minister Mark Carney (second from right) and MP Joanne Thompson (right) greet workers at the Newdock shipyard in St. John’s on Monday afternoon.
Prime Minister Mark Carney speaks at a new conference in front of workers at the Newdock shipyard in St. John's Monday afternoon.
Prime Minister Mark Carney (left) shakes hands with Premier John Hogan as MP Joanne Thompson looks on during a news conference in front of workers at the Newdock shipyard in St. John’s Monday afternoon.

Overview

  • Prime Minister Mark Carney announced the funding in St. John's for small and medium-sized businesses across Atlantic Canada.
  • The money will be delivered through the Atlantic Canada Opportunities Agency to help companies diversify markets, modernize operations and strengthen supply chains.
  • Seafood producers are eligible for support following Chinese tariffs on Atlantic exports imposed after Canada’s levies on Chinese electric vehicles.
  • The allocation draws from Ottawa’s $1 billion Regional Tariff Response Initiative, which the government expanded as part of a broader protectionist and procurement package last week.
  • Carney said the region’s share is larger than its population and GDP weight and he signaled a shifting trade relationship with the United States under President Donald Trump.