Canada To Offers 'Pandemic-Level' Financial Support Amid Donald Trump's Tariff Threats
Date
1/29/2025 9:01:00 PM
(MENAFN- Live Mint) Ottawa has announced it will offer pandemic-level financial assistance to Canadian workers and businesses if US President Donald trump follows through on his threats of imposing heavy tariffs.
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As reported by AFP, Trump has indicated he would implement 25 percent tariffs on imports from Canada and Mexico as soon as February 1 unless further measures are taken to curb migrant and drug crossings into the United States. Given that approximately 20 percent of the Canadian Economy and nearly two million workers rely on exports to the US, these tariffs would have a significant impact.
“Canada will be there to support and protect workers whatever irrational decision is made south of the border,” Labor Minister Steven MacKinnon told a news conference, AFP reported.
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"Workers will not pay the price for or bear the brunt of a tariff decision made by the US administration," he said.
At his side, MP Randy Boissonnault jumped in to tell reporters to look to Canada's Covid-19 pandemic response to get a sense of the scale of the proposed bailout, which Canadian media have said could rise to billions of dollars.
“If you want to know what we can do and will do... take a look at (the government's) Covid playbook. Take a look at how we supported people during Covid,” Boissonnault said.
In 2022, the Canadian government allocated over Can$280 billion in emergency pandemic relief to individuals and businesses, causing the national debt to surpass Can$1 trillion for the first time. To prevent potential tariffs, Foreign Minister Melanie Joly traveled to Washington on Wednesday to meet with US counterpart Marco Rubio, aiming to persuade the Trump administration to reconsider imposing tariffs on Canada.
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