Trade War – COVID-Era Type Support

In recent weeks, the federal government of Canada has increasingly indicated that COVID-era type supports would be established as part of Canada's broader response to what is now a very real and ongoing trade war with the United States. Please see our Financial Services Group's article from February 21, which sets the stage regarding potential financing and other fiscal supports from both federal and provincial governments across Canada.

On March 7, as part of a broader statement, the Canadian federal government announced a $6.5 billion aid package that will be made available to Canadian businesses through three specific federal Crown corporations: Export Development Canada ("EDC"), the Business Development Bank of Canada (the "BDC"), and Farm Credit Canada ("FCC"), to support Canadian businesses through the trade war with the United States. While many details are still unknown, below is a brief summary of the new programs being established by EDC, the BDC, and