P.E.I. offers businesses millions to offset the impact of U.S. tariffs
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CHARLOTTETOWN – Prince Edward Island Premier Rob Lantz is rolling out millions of dollars worth of new programs to help Island businesses deal with the fallout from U.S. tariffs.
The province announced Friday a $10-million program that will provide businesses with up to $500,000 in loans.
They will carry an interest rate of four per cent over seven years and the government says in a news release that it expects only interest payments over the first two years.
Innovation PEI plans to make grants of $50,000 available for businesses to explore new markets, supply chains and increase trade.
That program is projected to cost about $2.5 million.
The U.S. imposed 50 per cent tariffs on about $28 billion worth of Canadian goods last week after trade talks between the two countries fell apart.
“We’re acting now, alongside our federal partners, to help businesses manage the immediate impacts, protect Island jobs and give them the tools they need to adapt,” Lantz said in a statement. “As the situation changes, we’ll keep listening, responding and standing up for Prince Edward Island.”
This report by The Canadian Press was first published Aug. 28, 2026.
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