FOR IMMEDIATE RELEASE
Guelph – May 7, 2026
Guelph MP, Dominique O’Rourke, has seen firsthand the impacts of U.S. tariffs on industries and businesses in Guelph, in Southwestern Ontario and across Canada. On Monday, May 4, 2026, she joined the Minister of Industry and Canada Economic Development for Quebec Regions, the Honourable Mélanie Joly, and the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Federal Economic Development Agency for Southern Ontario, to announce an additional $1.5 billion investment aimed at protecting and strengthening sectors most affected by these tariffs.
Through her work on the Standing Committee on Industry and Technology, as Chair of the Auto Caucus, and now a member of the Standing Committee on Transportation, Infrastructure and Communities, O’Rourke has engaged directly with industry leaders and business owners to better understand the challenges they face amid shifting market conditions.
“This new funding provides immediate liquidity and targeted support to affected industries. A $1 billion program through the Business Development Bank of Canada (BDC) is available immediately to companies that manufacture and export products containing steel, aluminum, or copper to provide a bridge as they adapt and respond to extraordinary market pressures,” said O’Rourke.
An additional $500 million is now allocated to the Regional Tariff Response Initiative (RTRI), which supports businesses across all sectors, so they have access to capital needed to make strategic pivots through market diversifications, explore growth in sectors like defence, infrastructure, and critical minerals, and enhance long-term competitiveness.
“The biggest challenge is uncertainty,” said O’Rourke. “I have been relentless in promoting these supports to support Canada’s essential manufacturing sector.”
Andy Veilleux, President and CEO of the Guelph Chamber of Commerce also welcomes the new supports as Guelph has weathered significant job losses over the past year.
"This funding is a welcome addition for many of Guelph’s businesses that continue to face the headwinds of unfavourable trade conditions from our biggest trading partner. Guelph businesses are resilient and innovative, but interventions such as these ensure their long-term success and sustainability in these difficult times. We welcome the federal help, and the tireless support of MP Dominique O’Rourke on behalf of Guelph, which is commendable and much appreciated,” said Veilleux.
As global trade uncertainties persist, this significant federal investment represents a critical step in supporting Canadian industries. By providing immediate relief while enabling long-term adaptation and growth, O’Rourke’s ongoing advocacy ensures that businesses and workers are better positioned to navigate challenges and seize new opportunities in an evolving economic landscape. With application to the BDC program and the RTRI now open, impacted businesses are encouraged to access the supports available to help stabilize operations, invest in innovation, and build resilience for the future.
For media inquiries, please contact:
Lianne Cassidy
Chief of Staff to Dominique O'Rourke, Member of Parliament for Guelph
[email protected] | 519-837-5170
