When regional industries face economic pressures from international trade barriers such as tariffs, federal governments may provide non-repayable financial support to help businesses adapt, diversify their markets, and maintain competitiveness in the global economy.
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Sask. to receive $8.1M in federal support for steel industryAdded:
Impacted by US tariffs, the Saskatchewan steel industry received some support from members of the federal government.
The minister responsible for Prairies Economic Development Canada announced more than 8.1 million dollars will go towards helping Saskatchewan steel in light of tariff-related pressures. Three companies will receive 1 million dollars each while a large portion of it will go towards the Saskatchewan Trade and Export Partnership Program.
The support will help staff deliver programming across the Prairies and it'll help businesses focus on diversifying their markets, modifying their products, giving more companies the tools that they need to sell beyond our borders and really to compete in this changing global economy.
Because the funds are tariff relief, it is non-repayable.
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