In practical terms, the package includes a new $1 billion program through the Business Development Bank of Canada, specifically targeting factories impacted by tariffs on steel, aluminum, and copper. An additional $500 million has been injected into the Regional Tariff Response Initiative, distributed through regional development agencies — for Quebec businesses, Canada Economic Development for Quebec Regions (CED) is the entry point. Eligible businesses will have access to low-interest loans over three years, up to $50 million, repayable only at the end of the period.
Worth noting as well: the government announced a new "Buy Canadian" procurement policy, requiring all public contracts over $25 million to prioritize Canadian materials. For manufacturers looking to position themselves as suppliers for major projects, this is a signal worth paying attention to.
The CVDM welcomes these announcements. In a context where uncertainty weighs heavily on manufacturing SMEs, every lever matters — and fast access to liquidity can make the difference between absorbing a shock and facing lasting consequences.
The Fédération des chambres de commerce du Québec and Manufacturiers et Exportateurs du Québec also welcomed the measures, while noting that additional solutions will be needed and that resolving the trade conflict itself remains the central issue.
This period also shines a light on a reality that Luc Sirois, Quebec's Chief Innovator, named directly last March: the province's manufacturing sector faces a genuine cultural challenge around innovation. Only 16% of Quebec businesses have a mature innovation culture, and companies that collaborate with external partners improve their productivity by 5 points — yet fewer Quebec businesses do so compared to Ontario. In turbulent times, it's precisely this capacity to work within a network that distinguishes the businesses that adapt from those that endure.
That's what CVDM facilitates every day: helping manufacturers find the right partners within their ecosystem, share resources, and pool capacities. Concrete solutions that require no additional debt, and that build lasting resilience across the industry.
Want to learn more about the announced programs? The Business Development Bank of Canada and CED websites are the first places to check.
And if you'd like to explore what our network can offer you, we'd love to talk.
Source: The Canadian Press / Government of Canada, May 4, 2026
Photo credit: The Canadian Press / Spencer Colby — Industry Minister Mélanie Joly speaks at an announcement at Ateliers Beau-Roc in Vars, Ontario, on Monday, May 4, 2026.
