03:15 PM EDT, 09/08/2025 (MT Newswires) -- Businesses in Atlantic Canada will be able to access $80 million of the $1 billion tariff relief fund set up by the federal government, Prime Minister Mark Carney said Monday, The Canadian Press is reporting.

The report noted Ottawa set aside $1 billion for a regional tariff response initiative to help small and medium-sized businesses diversify their markets and adopt new technologies.

That funding was part of a package of protectionist policies and tariff relief measures announced Friday for businesses dealing with the effects of U.S. President Donald Trump's trade war.

Friday's announcement also included a $5-billion fund to help companies pivot to new markets, keep skills and production in the country and become more competitive globally, along with a "Buy Canadian" policy for the federal government.

Carney said Monday the change in the global economy is "not just a transition. It's a rupture."

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