If tariffs come into effect, Quebec will offer short-term loans to businesses [Video]

Quebec is planning a similar loan program for businesses as it did during the COVID-19 pandemic in the event that United States President Donald Trump moves ahead with tariffs on Canadian goods in March. 

“It would be like COVID,” said Premier François Legault while visiting manufacturers in the Beauce region Thursday. 

Legault explained that loans would be provided by Investissement Québec “for a short period – one month, two months, three months – so that [companies are] able to get through this period without having too many layoffs.”

Quebec companies have already announced layoffs, though. Wednesday, Montreal-based tights manufacturer Sheertex announced it would be laying off 40 per cent of its 350-employee workforce while South Shore Furniture said it would be laying off 115 employees. 

“We have to be realistic: if it lasts a year, two years, four years, we would not be able to finance exports at a loss for a long period,” Legault …