USA Tariffs
On April 2, 2025, the USA announced a series of tariffs targeting multiple U.S. trading partners, including a 25% tariff on Canadian imports, with exemptions for goods compliant with the United States-Mexico-Canada Agreement (USMCA). In a pre-emptive response to mounting trade pressures, Canada introduced countermeasures on March 12, 2025, imposing 25% tariffs on U.S. steel and aluminum products, along with additional duties on a broad spectrum of American imports valued at $29.8 billion. (Source: Department of Finance, Canada.ca)
The Government of Canada recently announced a comprehensive response plan to counter the U.S. tariffs imposed on Canadian goods while supporting Canada's interests, industries, and workers. In addition, the government introduced temporary flexibilities to the EI Work-Sharing Program to increase access and maximum agreement duration.
This is an evolving situation, and both governments continue discussions to seek a resolution. The Government of Canada monitors developments and will provide updates as more information becomes available.
Concerned your business is too reliant on one single market? Explore the business supports and resources below to get started on your trade diversification path. Tillsonburg area businesses are encouraged to participate in the Tariff Impact Survey to provide insights on trade challenges and opportunities. Note: This page will be updated as information becomes available.
Latest News & Updates
Find the latest news and communications from the Department of Finance Canada here.
Support for Canadian Businesses
Economic support programs are available to help businesses and workers directly impacted by U.S. tariffs. Some of the supports that are available include:
- Business Benefits Finder
The Business Benefits Finder is a tool provided by the Government of Canada to find programs and services to help your business grow. - Business Development Bank of Canada
Business Development Bank of Canada (BDC) provides financing solutions and advice to small and medium-sized businesses in all industries and at every stage of growth. - Canada Small Business Financing Program
The Canada Small Business Financing Program (CSBFP) makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders. - EI Work-Sharing Program (Employment and Social Development Canada)
The government introduced temporary flexibilities to the EI Work-Sharing Program in response to the threat or potential realization of U.S. tariffs that are in effect from March 7, 2025 until March 6, 2026. This program provides EI benefits to employees who agree with their employer to work reduced hours due to a decrease in business activity beyond their employer’s control. - Export Development Canada
Export Development Canada (EDC) helps Canadian companies of all sizes succeed in global markets with trade knowledge, financial solutions, insurance, equity and connections. - Farm Credit Canada
Farm Credit Canada (FCC) is a dedicated lender for the agriculture and agri-food sectors and provides a range of financial products and services to support Canadian farmers and businesses related to farming. - Trade Commissioner Service
The Trade Commissioner Service helps Canadian businesses grow with confidence by connecting them with its funding and support programs, international opportunities, and network of trade commissioners in over 160 cities worldwide.
The Canadian government is outlining a framework and process for how it will consider remission requests for the tariffs on products from the United States (U.S.) that apply beginning on March 4, 2025.
Source: Global Affairs Canada, Trade Commissioner Service
Market Diversification Support
To help Canadian exporters navigate these changes, the Trade Commissioner Service (TCS) provides information on how to get access to funding and tailored support programs to help you diversify your exports, including:
- Spotlight on Trade Diversification
Offers insights and resources to help Canadian businesses explore new export markets and diversify their trade activities. - Trade Diversification
Access reports and trends analyzing progress towards this objective. - Canada’s Indo-Pacific Strategy
Information about Canada’s Indo-Pacific Strategy. - CanExport Funding
Funding opportunities to explore new business opportunities abroad, connect with international research and development (R&D) partners and attract foreign investment. CanExport programs have various opening periods.
- Trade Missions and Events
- Global Bid Opportunity Finder
Search for commercial opportunities with foreign governments which are available to Canadian businesses. - Comprehensive & Progressive Agreement for Trans-Pacific Partnership (CPTPP)
Canadian businesses can get ahead of the global competition by using the CPTPP - a free trade agreement between Canada and 10 other countries in the Indo-Pacific: Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. - Canada-European Union Comprehensive Economic and Trade Agreement (CETA)
The European Union (EU) is one of the largest economies in the world and Canada’s second-largest trading partner. CETA presents Canadian businesses with preferential access to and excellent opportunities for growth in the EU.
Source: Global Affairs Canada, Trade Commissioner Service
Other Resources
- Ontario Business Improvement Area Association (OBIAA) - Shop Main Street Canada Toolkit
- Tariff Remission Application - by Fair Grant Writing