This statement is attributable to Deborah Yedlin, President & CEO at the Calgary Chamber of Commerce
“The Calgary Chamber welcomes this morning’s announcement from the federal government of $7.5 billion in strategic supports to protect Canadian businesses and workers from the impact of new U.S. tariffs. At a time of immense uncertainty in the Canada-U.S. trading relationship, we are encouraged by the federal government’s commitment to the business community and our economic security.
“The recent imposition of U.S. tariffs will have significant impacts on the Canadian economy, particularly affecting small and medium-sized businesses who rely on access to the U.S. market. We are pleased to see targeted support for these businesses through Canada’s regional development agencies and the Business Development Bank of Canada. This includes $1.5 billion through the Regional Tariff Response Initiative, with non-repayable loans of up to $3 million and interest-free loans up to $2 million, as well as $500 million through BDC to help businesses manage immediate cash-flow pressures. We are also pleased to see $3.5 billion allocated to a rapid response initiative for workers and employers, including extended EI measures and benefits that will protect and retain jobs. Supporting workers through disruption while helping businesses maintain their workforce will be critical to protecting jobs and preserving Canada’s economic capacity.
“Our business community is the backbone of our economy. With targeted retaliatory tariffs from the Canadian government set to come into effect on September 8, the urgency to buy Canadian and support local has never been greater. This is an opportunity to strengthen our domestic capacity and diversify our trade relationships, and continued collaboration between governments and industry will be essential to ensure Canadian businesses have the tools they need to grow and compete.”
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About the Calgary Chamber of Commerce
The Calgary Chamber exists to empower our business community to advance a prosperous Calgary and Canada. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization founded in 1891, we build on our history to serve and advocate for businesses of all sizes, in all sectors across the city.
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