Canada Announces $1.5B Support for Steel, Aluminum, and Copper Sectors
Trade Update • May 5, 2026
Key Points
- Canada launches a $1 billion Business Development Bank of Canada (BDC) program for tariff-affected industries.
- The program provides financing to businesses using steel, aluminum, or copper in production and exports.
- An additional $500 million is added to the Regional Tariff Response Initiative (RTRI) for SMEs.
- Funding supports liquidity needs, market diversification, and productivity improvements.
The Government of Canada has introduced a $1.5 billion support to help industries affected by U.S. tariffs on steel, aluminum, and copper. According to Ottawa’s official announcement issued on May 4, 2026, the package includes a new $1 billion financing program from the Business Development Bank of Canada (BDC) and $500 million in additional funding for the Regional Tariff Response Initiative (RTRI). This financial aid aims to ease financial pressure and support business adjustments and market expansion.
BDC $1B Financing Program
The new BDC program is available for businesses that manufacture or export goods containing these metals, as well as firms that use them heavily in production. The program offers financing at favorable terms to help businesses manage immediate financial pressure and maintain their operations.
The goal is to provide liquidity to viable businesses affected by tariffs and help strengthen long-term competitiveness in key industrial sectors.
Additional $500M RTRI Expansion
The additional RTRI funding will support SMEs across Canada. Regional development agencies will deliver the funds to help businesses adjust to changing trade conditions. Support includes investments in productivity, diversification into new markets, and improvements in competitiveness.
Official Statements
“We are taking concrete action to strengthen Canada’s economy by standing behind our steel, aluminum and copper industries. The new measures announced today will protect workers and ensure companies have the tools and financing they need to keep operating, growing, and building Canada’s strength at home.”
“Canada’s steel, aluminum and copper industries are facing real pressure, and our government is moving quickly to help them adapt, modernize and compete. Today’s investment will give businesses the financing they need to strengthen their operations, protect good Canadian jobs and build a more resilient industrial economy here at home.”
How GHY Can Help?
GHY specializes in helping businesses navigate and reduce the impacts of tariffs through strategic solutions tailored to their needs. Our experts can audit your supply chain to identify inefficiencies, uncover cost-saving opportunities, and ensure compliance with evolving trade regulations. We also employ tariff engineering techniques to optimize product classification and sourcing strategies, minimizing duty exposure and maximizing profitability.
By partnering with GHY, your business gains access to the tools and expertise needed to streamline operations and stay competitive in a challenging trade environment.
Contact Us Today! Booking a Meeting, email consult@ghy.com, or call +1 (800) 667-0771.
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