The Department of Finance has announced new remissions for some businesses and entities affected by the Canadian countermeasure tariffs, in response to the unjustified tariffs imposed by the U.S. on Canadian products.
Remission will be granted to
- automakers, contingent on vehicle production in Canada; and,
- goods used in Canadian manufacturing, food and beverage packaging, public health, health care, public safety and national security (temporary six month remission)
The the new Large Enterprise Tariff Loan Facility (LETL) is now accepting applicants. This program will support eligible large businesses—including those that contribute to Canada’s food security, energy security, economic security and national security—that are facing difficulties in accessing traditional sources of market financing, by providing access to liquidity.
The Department of Finance has advised that more information about the application of these remissions will be available by tomorrow morning via an Order in Council.
Please see this link for the full news release: https://www.canada.ca/en/department-finance/news/2025/04/canada-announces-new-support-for-canadian-businesses-affected-by-us-tariffs.html