TORONTO — Prime Minister Mark Carney announced significant measures on Friday to assist Canadian industries affected by U.S. tariffs, including agriculture, steel, aluminum, and automotive sectors. Speaking at an airplane manufacturing facility in suburban Toronto, Carney outlined a series of initiatives and funding aimed at prioritizing Canadian suppliers in government procurement.

The new measures include a $370 million biofuel production incentive and a $5 billion "Strategic Response Fund" designed to help companies impacted by tariffs to retool and retrain their workforce. "We cannot control what other nations do. We can control what we give ourselves – what we build for ourselves," Carney stated. He emphasized the importance of strengthening Canada’s economy amid global uncertainties.

Carney's announcement comes as Canada faces economic challenges, with recent data revealing a loss of 66,000 jobs in August and an unemployment rate that has reached a nine-year high of 7.1 percent. He described the current economic situation as a "rupture" rather than a transition, highlighting the profound effects on workers and supply chains.

In addition to tariff relief, Carney indicated that the government would review several controversial climate policies from the Justin Trudeau administration. This includes potential changes to the Clean Fuel Regulations, which have been criticized by Conservative leader Pierre Poilievre as "carbon tax 2.0." These regulations aim to promote innovation in green technologies and increase the use of low-carbon fuels. A government document stated, "The government intends to amend the Clean Fuel Regulations to strengthen the resiliency and spur the development of Canada’s low-carbon fuel sector. Only targeted amendments that advance this objective will be considered at this time."

Carney also announced a delay in the implementation of Canada’s zero-emission vehicle sales mandate, which was set to begin in 2026. The mandate would have required that at least 20 percent of new vehicle sales be zero-emission vehicles by that year, with a goal of 100 percent by 2035. The government will conduct a 60-day review of this policy to assess its impact on costs.

Furthermore, Finance Minister François-Philippe Champagne's office confirmed that a review is underway regarding the tariffs imposed on Chinese electric vehicles, steel, and aluminum. This review will determine whether the current tariff rates should remain in place.