Dear Members,
Today brought good news for Island businesses.
Prime Minister Carney has announced $550 million in new funding for the Regional Tariff Response Initiative (RTRI), bringing the total to $1 billion over five years. This fund will help businesses manage costs, diversify into new markets, strengthen supply chains, and stay competitive as global trade conditions evolve. It also means more sectors will be eligible for support, including seafood processors, manufacturers, and those impacted by tariffs.
Here in PEI, early investments from both the federal and provincial governments have helped foster growth this year in exports to both the U.S. and internationally. That growth shows the strength and resilience of Island businesses — but we know how quickly trade conditions can shift. While most of our exports to the U.S. are protected under CUSMA, uncertainty south of the border reminds us that we need the right tools in place to safeguard that success
That’s why these new federal supports matter. Along with workforce development funding and a Buy Canadian procurement policy, the RTRI gives Island businesses added stability and the backing they need to keep diversifying and growing with confidence.
ACOA will be hosting information sessions on how to access RTRI supports, and we encourage our members to take advantage of these opportunities. You can register by contacting ACOA’s Business Information Services at 1-888-576-4444 or bis-sie@acoa-apeca.gc.ca.
