The city of Montreal announced measures to help small and medium enterprises to deal with the impact of the rates of US President Donald Trump, including access to a $ 36 million fund.
“We did it through the pandemic, so we know that we can overcome difficult situations,” Luc Rabauin, a new leader of Projet Montreal and head of economic development in the city executive committee on Wednesday afternoon, told reporters.
The news comes when Trump began describing his rate program on Wednesday at 4 pm
Rabouin said that the city’s business support network, PME MTL, will provide $ 36 million to companies that meet specific criteria and demonstrate that they will be affected by tariffs.
He also stated that companies that have a loan with the network will have a six -month grace period on loans owned by the city’s fund.
“We give them time to breathe,” Rabauin said.
He also said that the city will prioritize local companies whenever he can.
Last month, Quebec Municipal Affairs Minister Andrée Laforest announced A new regulation that allows cities to impose sanctions of up to 25 percent in US companies requesting municipal contracts.
New measures “nothing more to repeat,” says opposition
Rabauin’s measures did not receive unanimous approval in Montreal, particularly from the opposition in the City Council.
“The measures announced by the leader of Projet Montréal, Luc Rabouin, in response to tariff attacks are nothing more to repeat,” said Julien Hénault-Ratelle, the economic development spokesman of the Montreal team, in a statement.
“There is nothing new under the sun. These are recycled envelopes, without new money.”
According to Rabauin, if the city sees that companies need more money, it will provide more.
He also encouraged entrepreneurs to contact one of the PME MTL offices if they had any questions and consumers to support companies buying local.
