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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 6 sources · 4 days · First seen · Last updated
US tariffs impact on Quebec economy
Overview
New United States tariffs, including a 50% rate on $28 billion worth of goods, have created economic concerns in Quebec, particularly within the manufacturing and forestry sectors. In regions such as La Matapédia, officials warned that the tariffs could lead to business closures or layoffs due to the heavy reliance on wood processing.
To mitigate these pressures, regional authorities and the provincial government have utilized and expanded the Emergency Assistance Program for SMEs (PAUPME). Initially, the program offered loans of up to $150,000 with 0% interest for the first year to businesses with significant US export ties.
As the situation progressed, the Quebec government expanded the program by lowering the minimum revenue threshold to $200,000, allowing smaller companies to access support. Additionally, specific adjustments were made for the forestry sector, exempting companies from the requirement to demonstrate profitability over the previous two fiscal years to account for structural industry challenges.
Entities
Maxime Blanchette-Joncas · MRC Les Moulins · MRC de Roussillon · United States · La Matapédia
Timeline
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12 days ago
[BUSINESS] 3 sourcesQuebec expands SME emergency aid to counter US tariffsQuebec is expanding its PAUPME emergency assistance program to help SMEs with revenues between $200,000 and $2 million cope with US tariffs, including specific relief for the forestry sector.
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16 days ago
[BUSINESS] 3 sourcesUS tariffs threaten Quebec manufacturing and forestry sectorsNew US tariffs are threatening Quebec's manufacturing and forestry sectors, prompting regional authorities to offer liquidity loans and economic support to affected small and medium-sized enterprises.
Sources
la-liberte.ca · lautrevoix.com · lesaffaires.com · mabeauce.com · magaspesie.ca · mrclesmoulins.ca