September 8,2025
RED FM News Desk
Prime Minister Mark Carney visited St. John’s on Monday to announce an $80-million tariff-relief fund for small and medium-sized businesses in Atlantic Canada.
The funding, delivered through the Atlantic Canada Opportunities Agency, is part of a larger $1-billion national package aimed at supporting Canadian businesses hit by U.S. tariffs.
Carney said the program will help companies strengthen supply chains and expand into new markets. He explained it would be financed by cutting “unnecessary federal spending,” allowing the government to redirect resources to help businesses invest for the future.
He added that the allocation for Atlantic Canada is larger than the region’s share of the national population and GDP, noting opportunities for industries like seafood to use innovative packaging designed for European markets.
The announcement comes as Canadian businesses face renewed trade uncertainty under U.S. President Donald Trump’s second term, which has included steep tariffs — some as high as 50 per cent — on steel, aluminum, and other key sectors.
Last week, Carney unveiled billions in new funding along with a “buy Canadian” policy, raising the Regional Tariff Response Initiative from $450 million to $1 billion.
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