Canada To Aid Businesses Affected By U.S. Section 232 Tariffs
The Canadian government announced last week its Regional Economic Growth through Innovation (REGI) initiative will provide C$100 million in assistance to businesses that have been harmed by the U.S. Section 232 tariffs on steel and aluminum.
Navdeep Bains, Canada’s minister of innovation, science and economic development, said, “In the face of unjust and illegal U.S. tariffs hurting businesses and workers on both sides of the border, our government is standing shoulder to shoulder with our hard-working steel and aluminum workers and users of their world-class products … Our investment to support small- and medium-sized producers and users across the country will help businesses innovate to drive productivity, scale up and expand into new markets to create good middle-class jobs.”
According to REGI website, the program is open to small and medium companies that are “intensive users of steel or aluminum,” are located in western Canada, and have 10 to 499 full-time employees who are based in Canada. Applicants also must meet the following eligibility criteria:
- Be a partnership, social enterprise, incorporated company, corporation, or co-operative, or an indigenous organization such as Indigenous/First Nation/Métis Settlement owned businesses;
- Have a for-profit legal entity capable of entering into legally binding agreements; and
- Be capable of demonstrating plans for projects pursuing productivity enhancements, and/or innovations to augment firm competitiveness.
The Canadian government expects the assistance will help approximately 300 businesses. An application guide is available here. An application is available on the website listed above.