The Town of Newmarket's Economic Development team is here to help local businesses navigate the impacts of ongoing trade tariffs. Inquiries relating to tariff support and programs can be sent to EcDev@newmarket.ca.
The federal government, the Province of Ontario, and national financial institutions have introduced a range of programs to help affected businesses manage these impacts. Below is a summary of some of the key resources currently available, along with who qualifies and how to apply.
On this page
Government of Canada programs
Regional Tariff Response Initiative (RTRI)
Who is eligible
Businesses in Southern Ontario affected by tariffs, Canadian countermeasures, or trade disruptions, including exporters and supply chain partners.
- Incorporated and registered in Canada or Ontario for 3+ years
- 5+ full-time employees in Southern Ontario
- $1M+ annual revenue
- All tariff-impacted sectors eligible
Funding available
Up to $3M non-repayable and $20M repayable funding for liquidity support, pivot projects, and larger transformative projects.
Government of Ontario
Ontario Together Trade Fund (OTTF)
Who is eligible
Ontario businesses affected by U.S. tariffs or significant trade risk exposure.
- For-profit businesses registered and operating in Ontario
- Generally, 3+ years in operation and 5+ full-time employees
- Not-for-profits, associations and charities may also be eligible
Funding available
Grants or interest-free loans of up to $5M per project, covering up to 75% of eligible costs for high-impact proposals. Up to 30% of a loan (maximum $1.5M) may be forgiven if job creation and investment targets are met.
Protect Ontario Financing Program (POFP)
Who is eligible
Ontario businesses in the steel, aluminum, copper, and automotive sectors affected by U.S. Section 232 tariffs.
- For-profit businesses registered and operating in Ontario
- $2M+ in annual revenue
- 10+ full-time employees in Ontario
- 3+ years in operation
- Must demonstrate that federal financial support options have been explored or exhausted
Funding available
Term loans from $250,000 to $40M per client, with repayment terms of up to 6 years and interest-only payments possible during the first year. Funding can support working capital such as payroll, leases, and utilities.
Business Development Bank of Canada (BDC)
BDC: Pivot to Grow Program
Who is eligible
Canadian businesses affected by U.S. tariffs or trade uncertainty, operating for 24+ months.
Funding available
Financing of $250K–$5M for operations, equipment, supply chain changes, and resiliency.
Export Development Canada (EDC)
EDC – Trade Impact Program (TIP)
Who is eligible
Canadian exporters and businesses that supply exporters facing tariff pressures or trade uncertainty.
Funding available
Up to $5B in financing and insurance capacity, including working capital guarantees, trade credit insurance, and financing.
Other Resources
- Canada Tariff Finder: Get tariff information for specific products and countries where Canada has a Free Trade Agreement. Learn more at: tariffinder.ca
- Business Benefits Finder: Get a tailored list of federal government programs and services your business may qualify for. Learn more at: innovation.ised-isde.canada.ca