Canada authorities will provide more than $ 6 billion as assistance to companies and enterprises affected by 25 percent duties introduced by US President Donald Trump on goods imported from the country. This is stated in the statement of the Canadian government published on the site.
The message notes that for two years, companies affected by duties will be provided with assistance of $ 5 billion to help them find new sales markets outside the United States.
In addition, support of $ 1 billion is provided for agricultural enterprises and the food industry. Another $ 500 million will be provided in the form of loans to firms and companies affected by tariffs.
Canadian Finance Minister Dominic Leblan said that this measure was adopted to ensure the country’s economic stability.
Canada’s authorities are determined to support Canadian business and employees in response to “unfair” tariffs introduced by the United States, ”he said.
Customs duties against Canada and Mexico
US President Donald Trump signed a decree on the introduction of duties on goods from Canada and Mexico in the amount of 25%, and imports from China in the amount of 10%.
At the same time, a reduced rate of 10 %was installed for Canadian energy resources. New tariffs were supposed to enter into force on February 4.
On February on February, Trump announced the suspension of the introduction of duties for a month for a month in response to the adoption of measures by Canada and Mexico to strengthen border security.
Duties of 25% for goods from Canada and Mexico entered into force on March 4.
In response to these measures, Canadian Prime Minister Justin Trudeau accused the United States to unleash the trade war and announced the introduction of similar duties on the import of goods from the United States in the amount of $ 155 billion.