Canadian Prime Minister Mark Carney has introduced a series of initiatives to alleviate the impact of US tariffs and enact reforms to enhance trade and investment. These measures, unveiled just days before an anticipated election, include allowing businesses to defer corporate income tax and consumption tax payments temporarily. Furthermore, a new government financing facility will be established, and support programs for affected workers will be expedited. Carney emphasized that these actions aim to safeguard workers, sustain businesses, and shield the economy amidst the ongoing trade disputes. In addition, a C$450 million boost over five years will be allocated to regional development agencies helping small and medium-sized enterprises impacted by tariffs. Carney also addressed the imposition of retaliatory measures against select US goods in response to existing import tariffs and potential new duties. Moreover, efforts to promote investment and facilitate the movement of goods and workers among Canada's provinces and territories were outlined, with a goal to streamline regulations for a more unified Canadian market. Carney expressed optimism that dismantling internal barriers could significantly boost the country's economy by C$250 billion. He concluded by stressing the urgency to embark on ambitious projects and expedite their completion to accelerate economic growth.
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