Good morning. 

Thank you, Premier. The first hints of fall are in the air, which gives us a chance to look back on the past few months. If there is one theme that shines through for this summer in Newfoundland and Labrador, it is that we are stronger together.

You brought Canadians to “The Rock” for the highly successful Canada Summer Games, and I am not just saying that because the Northwest Territories women’s basketball team notched their first ever victory, but also because of all the great performances, including Gavin Baggs – who won four medals in parasports for Newfoundland and Labrador.

There were lows along with the highs – a challenging fire season that destroyed property and displaced thousands of Newfoundlanders.

Premier Hogan, your leadership – alongside the tireless efforts of first responders, the Canadian Armed Forces, and the Canadian Coast Guard – has been invaluable in keeping people safe.

I also noted over the summer the progress we have made breaking down internal trade barriers to drive economic growth. The federal government has made good on its promise to eliminate all federal barriers. Premier, I know you are working hard with your provincial and territorial counterparts to ensure that, in these challenging times, we are indeed stronger together.

It is great to be back in St. John’s. I would like to thank my colleagues for being here this morning – Minister Thompson, and Members of Parliament Philip Earle, Tom Osborne, and Paul Connors.

Just a few days ahead of the anniversary of 9/11, I am reminded of my visit to both St. John’s and Gander on the first days of this year’s federal election.

During that visit, I had the privilege of meeting remarkable Newfoundlanders who opened their homes and hearts to strangers in need.

Their compassion and resilience reflect the very best of Newfoundland and Labrador, and are powerful reminders of what makes Canada strong.

Today, we are here at one of the oldest shipyards in Canada – proudly owned and managed by local Indigenous leadership.

I want to especially acknowledge Chief Terry Paul of the Membertou Nation, Chief Jenny Brake of the Qalipu Nation, Chief Brad Benoit of the Miawpukek Nation, and Saqamaw Chief Mi’sel Joe of the Miawpukek for joining us.

Newdock symbolises Canada’s industrial strength.

For 140 years, the hard-working women and men at this dockyard have repaired and refit legendary Canadian ships – from Canadian Coast Guard icebreakers to Royal Canadian Navy fleets.

Whether it’s the Cape Roger or the Judy LaMarsh – they are vessels that protect our sovereignty, that break the winter ice to unlock this region’s contribution to Canada’s $30 billion ocean economy, vessels that enable vital research to allow us to prepare and build for the future.

In doing so, Newdock creates good-paying, fulfilling careers for welders, pipefitters, boilermakers, and other skilled workers.

Shipbuilding is Canadian in its history and character, and it will be essential to our future.

Like many of our industries, however, shipbuilding is caught in the storm as the United States fundamentally reshapes all its trading relationships.

To be clear, Canada currently has the best deal of any U.S. trading partner.

Eighty-five per cent of our trade with the United States is now tariff free, and we have the lowest average tariff of any country in the world.

Yet, we cannot rely on our most important trade relationship as we once did.

We cannot control what other nations do, but we can control our destiny. We must focus on what we can control – building our economic strength at home.

That is our core mission, our North Star.

Canada’s new government is determined to build the strongest economy in the G7.

To that end, we are launching an ambitious plan to ensure a new era of prosperity following a period of significant challenge.

Our new industrial strategy will transform our economy from one of excessive reliance on the U.S. to one that is more resilient to global shocks. A new economy built on the solid foundation of Canadian industries and bolstered by diverse global partners.

Last Friday, in Mississauga, I announced a series of new and comprehensive measures to protect, build, and transform Canada’s strategic industries so they can prosper in the new global economy.

These measures are wide-ranging, flexible, and future-focused.

First, we introduced measures so Canadian workers can re-skill for the exciting, high-paying careers that new nation-building projects will create.

Second, we launched a new $5 billion Strategic Response Fund to help pivot to new products and markets. 

Third, we introduced a comprehensive Buy Canadian Policy – modernising Canada’s public procurement to prioritise Canadian suppliers.

Because it is time to become our own best customer.

Buying Canadian to build Canadian.

Fourth, we will provide immediate liquidity relief to those businesses most acutely impacted by U.S. tariffs.

The steel and aluminium industries, for example, have endured punishing U.S. tariffs – with the impacts being felt far and wide, including here on the East Coast.

Our liquidity facilities will give our businesses the support and the time they need to reposition themselves for the future.

And lastly, my focus here today: strengthening supports for small and medium-sized businesses.

In March, our government announced the Regional Tariff Response Initiative, a $450 million fund to support small and medium-sized enterprises (SMEs) directly or indirectly impacted by U.S. tariffs, so they could step up investments to diversify their products and markets, as well as adopt new technologies to boost competitiveness.

Last week, I announced that we are increasing funding for this initiative from $450 million to $1 billion, extending the repayment periods to up to nine years, and providing new, non-repayable contributions of up to $1 million across all sectors, including seafood.

Today, I am proud to announce that $80 million of that funding will be dedicated to businesses in Atlantic Canada.

Flowing through the Atlantic Canada Opportunities Agency, this funding will help SMEs across this region invest and thrive.

This will be important for the strength of our $30 billion ocean economy – over half of which is right here in Atlantic Canada.

In all, Atlantic Canada is a giant in fishing, shipbuilding, manufacturing, forestry, and energy – with overseas trade corridors that connect Canada with the rest of the world.

If we want to build the most dynamic economy in the G7, and we will do it, we must do everything we can to help the regions and our most high-potential industries prosper.

The $80 million under the Regional Tariff Response Initiative to Atlantic Canada will help SMEs expand into new markets. For example, developing innovative packaging and product formats, such as vacuum-sealed lobster tails or flash-frozen crab clusters, tailored for high-demand European markets.

Second, it will strengthen supply chains as businesses upgrade their cold storage and live-holding systems, so products stay fresher for longer – making it easier to reach more export markets overseas.

Manufacturing and resource industries will also benefit.

Steel producers can modernise their factories for construction and shipbuilding.

Sawmills can expand their activities to respond to the growing domestic and international demand for sustainable building materials.

Lastly, businesses can modernise their processing plants by automating positioning, sorting, and packaging chains to improve their efficiency and their consistency.

This funding will help equip Atlantic Canadian industries with the tools they need to respond to modern challenges.

To innovate.

To modernise.

To expand their operations and their customer base.

To take full advantage of new opportunities.

These ambitions align with the mission that guides your government – building lasting economic strength.

We will only realise those opportunities if we act, and that can be tough in times like these.

The changes in the global economy are not a transition, but a rupture.

Economic uncertainty can paralyse decision making and stifle growth.

This is not a time to delay and hope for the best.

Hope is not a strategy.

It is time to control what we can control:

• The products we buy.
• The time that our businesses have to adjust to new realities.
• The capital businesses need to retool and find new markets.
• The skills our workers need for the future.

Because when our businesses face calculated risks rather than uncertainties, our builders, innovators, and entrepreneurs thrive, and all of Atlantic Canada and the whole country rises with them – with higher wages, lower costs, and a brighter future.

The people of this province know better than anyone how precarious an industry can be.

That forces beyond your control can change everything overnight. Canada’s new government is clear-eyed about the scale and speed of the forces currently at play, so we are empowering Canadians to shape our own destiny.

To build the future we want for ourselves: an economic future that is not reliant on one trade partner, but built on strong Canadian industries, powered by demand here at home, and bolstered by diverse international trade partners.

We are making major investments to ensure our industries can bridge to that future and seize its opportunities.

A rising tide lifts all boats.

We will be a global leader in food, shipping, defence, information technology, and energy – because we have what the world needs, and the values to which the world aspires.

Because together, we are building Canada strong.

Thank you.