Canada presents help to help companies and workers affected by the War Rate

Article content

The Federal Government of Canada introduced measures to help companies and workers on Friday, in response to commercial uncertainty with the United States.

Article content

Article content

The measures include better access to an employment insurance program and billions of dollars in funds to help companies affected by tariffs and find new export markets.

On Cash Friday, Ottawa introduced temporary flexibilities to an existing employment insurance scheme (EI) called “Work Exchange Program” that provides partial benefits to employees who agree to work reduced hours due to a decrease in commercial activity outside the control of your employer.

Article content

“The duration, as I just described, will be longer, more organizations … You can have access to these funds,” said Employment and Laboration Minister Steven Mackinnon, during a press conference in Ottawa.

The program is financed through the EI Fund and is designed to help keep workers employed during difficult shopping cycles. Mackinnon confirmed that participation in the program will not affect the future eligibility of an employee for the benefits of complete the future in the future.

On Thursday, the president of the United States, Donald Trump, reached a pause on 25 percent tariffs on Canadian and Mexican goods that fulfilled the State-Mexico (Cusma) agreement of Canada-Canada until April 2.

In response, the Canadian government maintained its 25 percent retaliation rates in US goods in its place, but stopped in its next phase that would have put tariffs on additional US goods of $ 125 billion. Finance Minister Dominic Leblanc said the Government will continue to press for the elimination of all rates.

The Minister of International Trade, Mary NG, said that 40 percent of Canadian exports currently comply with the commercial agreement.

Article content

Article content

“Virtually all our exports are eligible for Cusma, but because we are a country of free trade and due to the most favored state of the WTO, it applies to the rest of that trade, companies do not present documents to say that it complies with Cusma,” NG said. “We simply trade, we trade freely, openly and we have been doing it for a long time.”

The Federal Government also committed $ 5 billion for two years through the development of Canada’s exports, to help companies that face financial losses as a result of tariffs.

In addition, $ 500 million will be made available to “at favorable prices” through the Canada Business Development Bank and $ 1 billion will be provided in new financing through Farm Credit Canada.

The ministers confirmed on Friday that none of the new measures will be financed through retaliation tariff income.

The announcement about EI does not reach what the new Democratic Party and labor leaders request to see more substantive changes in the employment insurance scheme that includes easier access, greater coverage for different types of workers and greater quantities of benefits.

Article content

“We have four more years of chaos, what we need of this chaos is a vision and a plan,” said Canadian President Bea Bruske, at a press conference along with the leader of PND Jagmeet Singh, in Ottawa.

Bruske added that he is already listening to possible layoffs in the sectors of the economy.

The Montreal Bank estimates that a complete commercial war with the United States could boost Canada unemployment rate to eight percent.

Mackinnon said that more substantive measures will be considered if tariffs advance on April 2.

“We have all intention to customize [our] Response to tariffs or non -tariffs, such as the United States, ”he said. “If this turns out to be a lasting situation, then you can expect absolutely that we come with new measures to protect our workers.”

Article content