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May 4, 2026 4:30 PM

Steelworkers welcome federal financing announcement, call for complementary measures to protect jobs

TORONTO, May 04, 2026 (GLOBE NEWSWIRE) -- United Steelworkers union (USW) National Director Marty Warren issued the following statement in response to the federal government's announcement of new financing for tariff-impacted businesses:

"Today's announcement is a positive step for companies facing serious pressure from the ongoing U.S. trade war. It matters to workers because these businesses support good jobs across Canada's industrial supply chain.

The new BDC program can provide crucial emergency liquidity to help viable businesses keep operating, while the additional Regional Tariff Response Initiative funding can support retooling, productivity and market diversification. These measures are important and can help stabilize Canada's industrial footprint.

But preferential financing alone will not be enough. Loans can help ...