Canada Offers C$1 Billion in Loans to Steel, Aluminum and Copper Firms Hit by Trump Tariffs
Canada is launching a new C$1 billion loan program for businesses hurt by U.S. tariffs on products containing steel, aluminum and copper, adding another government relief measure to the growing fallout from President Donald Trump’s trade agenda.
The program, announced by Industry Minister Mélanie Joly, will be run through the Business Development Bank of Canada and is aimed at companies that manufacture and export products using those metals. Canada is also adding C$500 million to a regional tariff response program for businesses in other affected sectors.
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The move shows how tariff pressure is spreading beyond border policy and into public spending. Canada is using loans to keep manufacturers stable, while the Trump administration has handled domestic blowback through farmer bridge payments, auto-related tariff offsets, agricultural exemptions and refund processing after court challenges to some tariffs.
The practical consequence is simple: tariffs are creating costs that governments are now trying to contain.
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