The global economy is more than a year into a profound rupture. Economic security, industrial policy, and geopolitical competition are increasingly shaping investment, trade, and financial decisions.
Despite this environment, Canada’s economy continued to expand, growing by 1.7 per cent in 2025. The economy avoided a recession and domestic activity remained solid, even as tariff increases and trade tensions weighed on activity.
In times of great change, Canadians have always been able to adapt, transform, and seize opportunities. Canada has what the world needs.
We are an energy superpower in clean and conventional energy, among the top five producers of the most important critical minerals, and a leading developer of artificial intelligence. We have the resources and people we need to thrive and compete in today’s global economy – and Canada has the confidence to seize this moment.
Business Measures:
GlobalEye – May 27, 2026
Entered into negotiations to procure the GlobalEye aircraft platform, projected to support 3,000 jobs in Canada’s aerospace and defence sector.
Ensured that no less than one-third of the projected GlobalEye fleet will be manufactured in Canada over the next 15 years, with at least 40 aircraft built by Canadian workers.
Advanced the Defence Investment Agency and Defence Industrial Strategy to prioritize Canadian suppliers and materials, invest in Canadian defence innovation and commercialization, and streamline procurement to give Canadian businesses and workers consistent and predictable demand.
BDC tariff support for steel, aluminium and copper companies – May 4, 2026
Announced $1.5 billion to support Canadian industries impacted by tariffs, including a new $1 billion BDC program for industries that manufacture and export products containing steel, aluminum, or copper.
Provided up to $1 billion in BDC loans to help Canadian steel, aluminum, and copper companies manage liquidity pressures, maintain operations, stabilize cash flow, and pursue new markets.
Provided an additional $500 million through the Regional Tariff Response Initiative to support tariff-impacted businesses, including $200 million for SMEs affected by steel, aluminum, and copper tariffs.
Team Canada Strong – April 28, 2026
A new nationwide effort backed by up to $6 billion over five years to recruit, train, and hire up to 100,000 new Red Seal skilled trade workers by 2030–31.
Creates clear, paid pathways for young Canadians into well-paying careers in the skilled trades — aligned to Canada’s housing, infrastructure, and defence needs.
Goal to cut the path to Red Seal certification by 50 per cent through streamlined processes, online exams, digital logbooks, and a single national apprenticeship number.
Build Canada Apprenticeship Service – April 28, 2026
Helps employers hire, train, and retain apprentices by providing wage subsidies of up to $10,000 for a first-year apprentice’s salary.
Matches apprentices to job opportunities and provides hands-on navigation support — reducing the burden on small and medium-sized businesses.
Apprenticeship Training Grant – April 28, 2026
Provides apprentices with a weekly income top-up of $400 per week while attending mandatory in-class technical training.
Total payment of up to $16,000 per apprentice — paid in addition to Employment Insurance — removing financial barriers during training.
Apprenticeship Completion Bonus & Continuation Support – April 28, 2026
A one-time $5,000 bonus for apprentices who obtain certification in a Red Seal trade — rewarding completion and accelerating Canada’s workforce.
Income supports provided for apprentices between training and work to reduce drop-off and keep people on the path to certification.
Canada-Japan Comprehensive Strategic Partnership – March 6, 2026
Announced a new Comprehensive Strategic Partnership between Canada and Japan across defence, energy, critical minerals, trade, and technology.
Strengthened trade and investment ties by identifying immediate investment opportunities, modernizing the Canada-Japan Joint Economic Committee, and deploying trade delegations to unlock new commercial partnerships for Canadian businesses.
Deepened cooperation in critical minerals, clean energy, and advanced technologies to secure reliable supplies, support diversified manufacturing ecosystems, and increase partnership opportunities in strategic sectors.
Canada-Australia Joint Statement – March 5, 2026
Advanced new Canada–Australia partnerships in investment, defence and security, critical minerals, energy, and artificial intelligence.
Welcomed Australia into the Critical Minerals Production Alliance to expand critical minerals production and processing capacity and diversify supply chains from mine to market.
Deepened investment cooperation between Canadian pension funds and Australian superannuation funds to remove barriers to investment and support nation-building projects in Canada.
Canada-India Strategic Partnership – March 2, 2026
Advanced a new Canada–India strategic partnership across energy and critical minerals, technology and AI, talent and culture, and defence.
Confirmed that Canada and India will conclude a new Comprehensive Economic Partnership Agreement this year to advance Canada’s goal of more than doubling two-way trade to $70 billion by 2030.
Secured more than 10 commercial agreements worth over $5.5 billion to create thousands of careers in Canada, boost bilateral investment, and build the foundations for increased Canadian exports to India.
Defence Industrial Strategy – February 17, 2026
Launched Canada’s first Defence Industrial Strategy to transform defence industries by prioritizing Canadian suppliers and materials, investing in Canadian innovation and commercialization, and streamlining procurement.
Positioned Canadian industry to take advantage of $180 billion in defence procurement opportunities and $290 billion in defence-related capital investment opportunities over the next 10 years.
Supported Canadian companies, including small and medium-sized businesses, through a $4 billion Defence Platform at BDC, a $379.2 million Regional Defence Investment Initiative, and $656.9 million for defence and dual-use technologies.
Auto Strategy – February 5, 2026
Launched a new auto strategy to reward the production of made-in-Canada vehicles and position Canada as a global leader in electric vehicle production.
Allocated $3 billion from the Strategic Response Fund and up to $100 million from the Regional Tariff Response Initiative to help the auto industry adapt, grow, and diversify to new markets.
Strengthened the competitiveness of the auto sector by rewarding companies that produce and invest in Canada, maintaining counter-tariffs on U.S. auto imports, and catalyzing new investment in the sector.
Canada-China Strategic Partnership – January 16, 2026
Forged a new Canada–China strategic partnership to diversify Canada’s trade relationships and catalyze new levels of investment.
Advanced energy, clean technology, and climate competitiveness cooperation to scale up investments in batteries, solar, wind, and energy storage.
Secured a preliminary trade agreement to remove barriers and reduce tariffs, helping unlock nearly $3 billion in export orders for Canadian workers and businesses.
Buy Canadian Policy – December 16, 2025
Implemented the new Buy Canadian Policy to change how the federal government purchases goods and services, strengthening domestic industries and supporting Canadian workers.
Prioritized Canadian businesses and Canadian content in major federal procurements, giving a clear and measurable advantage to companies that invest, employ, and produce in Canada.
Required Canadian-produced steel, aluminum, and wood products in large federal construction and defence projects to drive demand for materials produced at home.
Steel and lumber tariff support – December 5, 2025
Limited foreign steel imports to give Canadian steel producers better access to the domestic market and protect them against trade diversion.
Made it easier to build with Canadian steel and Canadian lumber by reducing interprovincial freight rates and prioritizing Canadian wood products in Build Canada Homes projects.
Provided financing and credit support to help steel and lumber businesses maintain and restructure operations, including $500 million for the BDC Softwood Lumber Guarantee Program and $500 million under the Large Enterprise Tariff Loan facility.
Canada-Alberta MOU – November 27, 2025
Signed a Canada–Alberta MOU to unlock and grow natural resource production and transportation in Western Canada, including pipelines, rail, power generation, transmission, ports, and other infrastructure.
Advanced a privately constructed and financed bitumen pipeline to Asian markets, with Indigenous co-ownership and economic benefits, to increase export access and support Canada’s national security goals.
Committed to simplify regulatory systems and reduce duplication through a single assessment process, with a maximum two-year timeframe for permitting and approvals.
Productivity Super-Deduction – November 4, 2025
Introduced a Productivity Super-Deduction to boost productivity and attract investment.
Allowed businesses to write off a larger share of the cost of new capital investments right away.
Helped businesses invest in machinery, equipment, technology, and other productivity-enhancing assets while improving Canada’s competitiveness for attracting investment.
Canada-Indonesia Comprehensive Economic Partnership Agreement – September 24, 2025
Announced the new Canada–Indonesia Comprehensive Economic Partnership Agreement, Canada’s first-ever bilateral trade agreement with an ASEAN country.
Reduced barriers to trade and investment, with over 95% of current Canadian exports to Indonesia set to have tariffs reduced or eliminated once the agreement is fully implemented.
Advanced new investment partnerships, including up to $825 million in EDC debt financing to attract investment and create new business opportunities for Canadian exporters and investors in Indonesia.
Build Canada Homes – September 14, 2025
Launched Build Canada Homes, a new federal agency to build affordable housing at scale and catalyze the creation of an entirely new Canadian housing industry.
Capitalized Build Canada Homes with an initial $13 billion to provide financing, leverage public lands, offer flexible financial incentives, and help builders get big projects off the ground.
Adopted the Buy Canadian policy to prioritize projects that use Canadian lumber and other Canadian materials, strengthening domestic supply chains and creating high-paying careers across the country.
Strategic Response Fund – September 5, 2025
Invested $5 billion over six years in the Strategic Response Fund to help firms in all sectors and regions impacted by tariffs adapt, diversify, and grow.
Helped maintain industrial capacity by offsetting new market access costs, supporting retooling, and helping Canada-based firms expand or secure new markets.
Provided $1 billion through the Strategic Innovation Fund to support the steel industry’s transition toward new lines of business and strengthen domestic supply chains.
Major Projects Office – August 29, 2025
Launched the new Major Projects Office to serve as a single point of contact to get nation-building projects built faster.
Streamlined and accelerated regulatory approval processes, reducing the approval timeline for projects of national interest to a maximum of two years.
Attracted domestic and global capital by helping structure and coordinate financing from the private sector, provincial and territorial partners, and government initiatives.
Unlocking our Critical Minerals – March 3, 2026
Announced over $3.6 billion in new programs and investments to unlock Canada’s critical minerals advantage and deliver Canadian minerals from mine to market.
Launched the $1.5 billion First and Last Mile Fund to build infrastructure that supports new mines, economic growth in mining regions, midstream processing, and new transportation routes to market.
Advanced a $2 billion Critical Minerals Sovereign Fund to make strategic federal investments in critical mineral value chains and help projects reach Final Investment Decision faster.
Regional Tariff Response Initiative – March 2025
Provided $1 billion over three years through the Regional Tariff Response Initiative to support small and medium-sized enterprises impacted by tariffs.
Strengthened the competitiveness of Canadian businesses by helping them boost productivity, cut costs, build more resilient supply chains, and reach new markets.
Provided targeted support for SME projects in the Canadian steel sector to help businesses adapt to tariffs, stabilize domestic supply chains, and boost productivity.
As of May 27, 2026 we have delivered tariff relief to 11/13 provinces and territories – with more to come soon.
