Canadian Prime Minister Mark Carney said Tuesday that financial aid programs are being prepared for industries hit hardest by steep U.S. tariffs, with potential rollout as early as next month, depending on the outcome of ongoing trade talks. Canada has already announced support for workers in the auto and steel sectors, which face U.S. tariffs of 25% and 50%, respectively.
Carney added that aid for the aluminum industry—concentrated in Quebec and also subject to 50% tariffs—is being considered, along with possible support for the forest-products, copper, and pharmaceutical sectors. The U.S. has threatened further tariffs on those industries, with an August 1 deadline for resolving the dispute. Carney acknowledged that some tariffs may remain despite negotiations, but emphasized that Canada will only accept a deal that benefits its economy. “A good deal,” he said, “would recognize and reinforce the integrated U.S.-Canadian supply chains,” particularly in autos.
