Canada's Prime Minister Launches 500 Million CAD Fund to Counter US Trade War: Let's "Support Domestic Products"
According to a report by the Financial Times, on September 5th local time, Canadian Prime Minister Trudeau announced a series of measures to counter the US trade war, including launching a 500 million CAD (about 2.577 billion RMB) fund to support industries affected by tariffs, and ordering the public sector to implement the "Buy Canadian" policy.
On September 5th local time, Trudeau spoke in Mississauga, Ontario, saying, "We will use Canadian steel, Canadian wood, Canadian technology, built by Canadian workers, to build more things."
A statement released on Trudeau's personal website that day indicated that the specific measures include establishing a 500 million CAD "Strategic Response Fund" to help companies affected by tariffs adapt, diversify their businesses, and expand; introducing a skills retraining program for Canadian workers, and launching a new digital employment and training platform; increasing loan limits for small and medium-sized enterprises, and amending clean fuel regulations to support the domestic biofuel industry.
The statement said that the "Buy Canadian" policy requires government departments to prioritize purchasing products from Canadian suppliers. If domestic suppliers cannot meet the demand, they must require that the purchased products contain local components. This procurement principle will be extended to all federal funding projects and state-owned enterprises, and it will develop a roadmap for provinces and local governments to adopt similar standards in their own procurement.
"As the United States completely changes its trade relationships, the global trade landscape is rapidly changing, leading to worker unemployment, supply chain disruptions, forcing companies to reconsider where to source raw materials and products, and creating uncertainty that suppresses investment. Canada can no longer rely on its trade relationship with the United States as before, and must strengthen its domestic economy," the statement said.
Original article: www.toutiao.com/article/1842572847705108/
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