Canada, UK, and Massachusetts Aid Tariff-Hit Businesses

In response to trade tensions with the U.S., Canada and the UK have unveiled measures to support domestic businesses affected by tariffs. Canadian Finance Minister François-Philippe Champagne announced a six-month tariff relief for U.S. goods vital to Canadian industries, alongside a loan facility for large enterprises. Automakers in Canada can also import a limited number of tariff-free U.S.-assembled vehicles under certain conditions. Meanwhile, the UK has increased its export finance support by £20 billion ($26 billion) to help businesses, especially those impacted by U.S. tariffs, navigate the changing global trade landscape. Additional support includes loans of up to £2 million for small and medium-sized enterprises. Massachusetts has also initiated a program to help local businesses adjust to tariffs by connecting them to new supply chains.