Canada unveils $27.6B in counter-tariffs, $7.5B support package for workers and businesses

The Liberal government announced $7.5 billion in support for Canadian workers and businesses, plus $27.6 billion in retaliatory tariffs against U.S. goods, following the collapse of trade talks. Finance Minister François-Philippe Champagne unveiled the package Tuesday, which includes $3.5 billion for a rapid response initiative, expanded EI benefits, and new funding for small and medium enterprises. The counter-tariffs match U.S. levies dollar for dollar on over 700 products. The support builds on nearly $25 billion in previous tariff aid. New measures include a $2 billion diversification fund, extended loan terms for large enterprises, and interest-free loans for qualifying businesses. Prime Minister Mark Carney briefed opposition leaders, while Conservative Leader Pierre Poilievre demanded an emergency economic plan.