Prime Minister Carney Announces $80 Million for Atlantic Canada Businesses
St. John’s, Newfoundland and Labrador – Prime Minister Mark Carney announced today that Canada’s new government will dedicate $80 million from the Regional Tariff Response Initiative (RTRI) to support businesses in Atlantic Canada. The funding is part of the government’s broader industrial strategy to strengthen Canada’s economy in the face of shifting global trade dynamics and U.S. tariff pressures.
The announcement comes just one week after Carney unveiled the largest suite of trade resilience measures in Canadian history, including a new $5 billion Strategic Response Fund, a Buy Canadian Policy, liquidity relief for businesses, and an expanded RTRI.
In St. John’s, NL, today. As we build a stronger, more resilient economy, Canada’s new government is making sure businesses in Atlantic Canada that have been hit by tariffs have the support they need to pivot — to diversify their products, reach new markets, and thrive. pic.twitter.com/ldOZxEhk2W
— Mark Carney (@MarkJCarney) September 8, 2025
Strengthening Atlantic Canada Industries
Delivered through Canada’s regional development agencies, the RTRI funding will provide targeted support to small and medium-sized enterprises (SMEs) most affected by tariffs. Businesses in key sectors such as seafood, manufacturing, and steel will be eligible to modernize their operations, diversify into new markets, and adopt innovative technologies.
Carney emphasized the importance of backing workers and industries in the region:
“Atlantic Canadians have built incredible industries that power this region and our country. As they face trade pressures and uncertainty, Canada’s new government is making major investments that will enable those workers and businesses to bridge to the future – and thrive in it.”
Federal Cabinet Ministers Weigh In
Industry Minister Mélanie Joly highlighted the long-term scope of the measures:
“The Strategic Response Fund, Buy Canadian Policy, and RTRI will help businesses diversify their markets and stabilize supply chains. We must meet this moment to build long-term prosperity in all regions of our country.”
Fisheries Minister Joanne Thompson noted the investment’s impact on the seafood sector:
“Fish and seafood are among Canada’s largest food exports. This investment backs the seafood sector and the coastal and rural communities it sustains.”
Justice Minister and ACOA lead Sean Fraser added:
“This investment is about protecting good jobs today, creating new ones for tomorrow, and ensuring the communities that make our region strong continue to thrive.”
Looking Ahead
With Atlantic Canada playing a pivotal role in Canada’s fisheries, energy, and manufacturing sectors, the RTRI investment underscores the federal government’s commitment to building economic resilience across all regions.
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