Canada pledges billions to aid firms hurt by trade upheaval

NIAGARA FALLS, CANADA - FEBRUARY 04: A Canadian flag flies next to the American one at the Lewiston-Queenston border crossing bridge on February 04, 2025 in Niagara Falls, Canada. U.S. President Donald Trump risked starting a trade war after threatening a 25 percent tariff on many goods shipped from Canada into the United States. Yesterday, before the tariffs were enacted, it was announced that there would be a 30-day pause on the tariffs. Joe Raedle/Getty Images/AFP (Photo by JOE RAEDLE / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

OTTAWA: Prime Minister Justin Trudeau’s government has allocated C$6.5bil or about US$4.5bil to help exporters reach new markets for Canadian products as the country’s business sector navigates US president Donald Trump’s tariff war.

A C$5bil programme will help exporters address challenges including losses from non-payment, currency fluctuations, lack of access to cash flows and barriers to expansion, government ministers announced.