Minister of Finance meets with provincial and territorial counterparts on Canada’s response to latest U.S. tariffs

August 24, 2026 - Ottawa, Ontario - Department of Finance Canada 

Today, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, met virtually with provincial and territorial finance ministers to discuss the suspension of trade negotiations with the United States (U.S.) and the government's response to newly imposed and unjustified U.S. tariffs on Canadian goods.

During the meeting, ministers heard from the Honourable Dominic LeBlanc, Minister responsible for Canada-U. S Trade, Intergovernmental Affairs, Internal Trade and One Canadian Economy, about the recent suspension of trade negotiations with the U.S. Minister LeBlanc emphasized that Canada approached these negotiations pragmatically, patiently and in good faith over the past 18 months, with the objective of securing a fair and durable agreement while defending Canada's national interests. He underscored Canada's commitment to preserving market access for Canadian businesses, protecting its sovereignty and cultural policies, and safeguarding key sectors of our economy.

For his part, Minister Champagne emphasized the continued importance of national unity and a strong Team Canada approach. He also outlined the Government of Canada's response to the new U.S. tariffs, including dollar-for dollar counter-tariffs that will take effect on September 8, and indicated that a major support package will soon be announced to help businesses maintain liquidity, support Canadian workers, and strengthen the resilience and competitiveness of the Canadian economy.

Minister Champagne also invited provincial and territorial ministers to provide input on proposed countermeasures, implicated products, and supports for Canadian workers and businesses affected by tariffs. Ministers reaffirmed their commitment to a Team Canada approach and underscored the importance of sustained collaboration on tariff responses and support measures. Discussions also focused on reducing internal trade barriers, strengthening Buy Canadian initiatives, diversifying export markets, and supporting long-term economic growth and investment.

The meeting concluded with a shared commitment to continued collaboration in addressing Canada-U.S. trade challenges, strengthening Canada's economic resilience, and protecting the interests of Canadian workers and businesses.