A new federal financing facility for large businesses struggling to sustain operations—and avoid layoffs—due to U.S. tariffs or Canada’s retaliation is now accepting applications, Finance Minister François-Philippe Champagne announced Tuesday. (The Logic)

Talking point: The new Large Enterprise Tariff Loan Facility, first announced under another name, is for companies with at least $300 million in annual Canadian revenue. They must show that tariffs or counter-tariffs would hurt them in a way that would affect the wider economy, and that they were not already involved in insolvency proceedings. They must also commit to keeping their business in Canada and minimizing job losses. The program is managed by the same subsidiary of Canada Development Investment Corp. that oversaw a similar program in the COVID-19 pandemic. It issued seven loans, including to four airlines.