Quebec's government unveiled two assistance programs on Monday to help local companies coping with the United States' newly announced 50% tariffs on selected imports. Premier Fréchette said the measures aim to reduce the financial strain on Quebec businesses that rely on the affected goods.
The programs, announced jointly by the provincial cabinet and industry representatives, will provide financial resources and advisory support to firms that have seen their export costs rise sharply. While the exact structure of the aid was not detailed, officials indicated that eligibility will focus on companies directly impacted by the tariff increase.
The United States' decision to levy a 50% duty on certain products has created immediate concerns for manufacturers and distributors in Quebec, many of whom source materials or sell finished goods to the American market. Provincial authorities noted that the tariffs could threaten profit margins and potentially lead to job losses if no corrective steps are taken.
By introducing these two programs, the Quebec government seeks to cushion the economic shock and preserve employment within the province. Premier Fréchette emphasized that the assistance reflects a broader commitment to protect Quebec's trade interests and maintain the competitiveness of its firms in the face of external policy changes. The initiatives will be rolled out in the coming weeks, with further details to be released through official channels.