OpenText and TELUS partner to deliver Canadian sovereign AI-powered solutions for government and business
This strategic partnership brings together Canadian infrastructure, AI innovation and trusted advisory services to deliver a truly sovereign, secure and scalable cloud AI platform designed specifically for Canadian enterprises and government institutions. Today, OpenText already serves 1,600 Canadian institutions with nearly a thousand organizations actively using and benefiting from AI-powered applications in the cloud. Now, Canadian customers have access to a fully sovereign cloud and AI environment that meets the highest standards of data residency, security and compliance.
"OpenText is excited to partner with TELUS to deliver these strategic capabilities for Canadian customers. Together with TELUS, we are delivering a uniquely Canadian solution — one that empowers our customers to innovate with confidence, knowing their data and AI workloads remain protected and in-country."
Mark J. Barrenechea, OpenText CEO & CTO
"This partnership represents a bold and important step forward in Canada's digital sovereignty. By combining TELUS' advanced Sovereign AI Factory offering with OpenText's enterprise AI capabilities, we are delivering Canada's first truly sovereign AI platform. Together with OpenText, we will enable our customers to leverage the complete AI development process — from building new AI models and fine-tuning existing ones for their specific needs, to deploying them in their business operations – all while keeping Canadian data safely within our nation's borders."
Darren Entwistle, President and CEO, TELUS
"Canada needs trusted data infrastructure and industry-leading sovereign AI capabilities to advance our technology sector. Seeing two leading, innovative Canadian companies come together to build the digital and AI backbone of the future underscores the kind of vision and leadership Canada needs right now. This will help build the economy of the future and serve Canadians in the digital economy of tomorrow. We need to see more collaborations like this to drive our nation forward."
The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation
A Canadian-first cloud and AI platform
The OpenText and TELUS Canadian Sovereign Cloud is a purpose-built, enterprise-ready solution that runs entirely within TELUS' Canadian data centers, including highly secure facilities in Rimouski, Quebec, and Kamloops, British Columbia. It delivers high-performance AI computing capabilities within a secure environment, providing essential sovereign AI compute services for organizations requiring both advanced AI workloads and absolute compliance with Canadian security standards and privacy regulations.
A commercially proven solution
OpenText and TELUS, both early signatories of the Government of Canada's voluntary AI code of conduct, have long-standing track records of serving Canadian governments, businesses and institutions. With this new offering, OpenText and TELUS are extending their capabilities to meet the evolving needs of our clients.
In addition, OpenText's family of Aviator AI products will leverage TELUS' pioneering AI Factory to offer a sovereign configuration hosted entirely in Canada, enabling customers to realize the benefits of AI-enabled search and summarize while keeping data secure within Canadian borders.
OpenText's private cloud solutions are available through existing procurement vehicles and have undergone rigorous technical evaluation, making them ready for deployment today.
Supporting Canadian innovation and growth
The launch represents OpenText's and TELUS' broader commitment to Canadian innovation. The OpenText and TELUS Canadian Sovereign Cloud offers a uniquely Canadian solution that combines cloud agility with sovereign assurance, demonstrating how Canadian organizations can compete globally while maintaining complete control over their most valuable data.
Getting started with Sovereign AI
The OpenText and TELUS Canadian Sovereign Cloud will be available starting September 2025 for commercial and government customers across Canada. For more information or to schedule a consultation, visit opentext.com/sovereign-ai-cloud and telus.com/aifactory.
OpenText™ is a leading Cloud and AI company that provides organizations around the world with a comprehensive suite of Business AI, Business Clouds, and Business Technology. We help organizations grow, innovate, become more efficient and effective, and do so in a trusted and secure way – through Information Management. For more information about OpenText (NASDAQ/TSX: OTEX), please visit us at www.opentext.com.
About TELUS
TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over $20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed $1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company.
We're always building Canada.
For more information, visit telus.com or follow @TELUSNews on X and @Darren_Entwistle on Instagram.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on current expectations, estimates, forecasts and projections. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. Assumptions, although considered reasonable at the date of this press release, may prove to be inaccurate and consequently actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see filings with securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, there is no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our websites, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our websites. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
an hour ago
- Cision Canada
5N Plus Inc. Reports 2025 Second Quarter Financial Results and Increases Annual Guidance
32% year-over-year revenue growth to a ten year-high of $184.2 million for the first half of 2025 Record Q2 2025 Adjusted gross margin 1 of $33.0 million and of 34.6% as a percentage of sales 1 Record Q2 2025 Adjusted EBITDA 1 of $24.1 million, representing 79% year-over-year growth Net-debt-to-EBITDA ratio 1 of 1.09x as at June 30, 2025 2025 Adjusted EBITDA guidance increased to a range of $65-$70 million, up from $55-$60 million MONTREAL, Aug. 4, 2025 /CNW/ - 5N Plus Inc. (TSX: VNP) ("5N+" or "the Company"), a leading global producer of specialty semiconductors and performance materials, today announced its financial results for the three-month period ended June 30, 2025 ("Q2 2025"). All amounts in this press release are expressed in U.S. dollars unless otherwise stated. "Our performance this quarter and year to date marks several new all-time highs for 5N+, including record quarterly Adjusted gross margin, and record quarterly and first-half Adjusted EBITDA. In addition, we generated our strongest first-half revenues in a decade. In a volatile business environment where customers are seeking dependable partners, 5N+ stands out for reliability, technical expertise and product quality, further supported by our diversified global sourcing and manufacturing capabilities which are of strategic importance to our customers," said Gervais Jacques, President and CEO, 5N+. "Building on our record results to date and amid accelerating demand in our strategic sectors, 2025 is shaping up to be a landmark year for 5N+. Within Specialty Semiconductors, we continue to capitalize on, and to anticipate, further demand momentum from the renewable energy and space power markets, while in Performance Materials our bismuth-based products are delivering exceptional margins," added Mr. Jacques. "As we head into the second half of the year, we are not only well-positioned to deliver on our now increased Adjusted EBITDA guidance ambitions for 2025, but to build on this momentum going into 2026. Thanks to our competitive advantages and expanded capacity, we will continue to solidify our status as the strategic partner of choice outside of China, able to capture growing demand for our high-purity advanced materials in an evolving geopolitical landscape," concluded Mr. Jacques. Financial Highlights Revenue in Q2 2025 increased by 28% to $95.3 million, compared to $74.6 million in Q2 2024. The increase is primarily attributable to higher sales in the terrestrial renewable energy and space solar power sectors under Specialty Semiconductors, and higher bismuth-based product pricing under Performance Materials. Adjusted EBITDA in Q2 2025 increased by 79% to $24.1 million, compared to $13.5 million in Q2 2024, driven by higher volumes in the terrestrial renewable energy and space solar power sectors, and better prices over inflation for both solar power and bismuth-based products. Adjusted gross margin increased by 41% to $33.0 million in Q2 2025, favourably impacted by the same factors as above. Adjusted gross margin as a percentage of sales was 34.6% in Q2 2025, compared to 31.3% in Q2 2024. Net earnings in Q2 2025 were $15.2 million, compared to $4.8 million in Q2 2024. Backlog 1 stood at $310.0 million, representing 297 days of annualized revenue as at June 30, 2025, 29 days higher than in the previous quarter. Net debt 1 was $74.3 million as at June 30, 2025, compared to $100.1 million as at December 31, 2024, reflecting an increase in cash. The Company's net-debt-to-EBITDA ratio stood at 1.09x as at June 30, 2025. ______________________________ 1 These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See Non-IFRS Measures for more information. Outlook Through the second half of 2025, 5N+ anticipates demand under Specialty Semiconductors from the terrestrial renewable energy and space solar power markets to accelerate, as customers look to secure advanced materials from trusted and reliable partners. Under Performance Materials, consistent with historical trends, volumes through the second half of 2025 are expected to be slightly lower than compared to the first half of 2025, with margins continuing to benefit from the Company's strategic global footprint and sourcing capabilities in the current volatile business environment. Based on its financial performance year to date, coupled with anticipated demand under Specialty Semiconductors and better than anticipated performance under Performance Materials, Adjusted EBITDA guidance for 2025 has been revised upwards from a range of $55 to $60 million, last updated on February 25, 2025, to a range of $65 to $70 million. Looking ahead, the Company will continue to remain prudent in an evolving geopolitical environment, including with regards to its impact on operating costs. As a preferred supplier of ultra-high-purity, high-quality products with a strong supply chain providing customers with a key strategic advantage, 5N+ is well-positioned to continue solidifying its leadership in key end markets through the end of 2025 and going into 2026. Conference Call 5N+ will host a conference call on Tuesday, August 5, 2025, at 8:00 a.m. Eastern Daylight Time to discuss its 2025 second quarter financial results. All interested parties are invited to participate in the live broadcast on the Company's website at To participate in the conference call: A replay of the conference call will be available two hours after the event and until August 12, 2025. To access the recording, please dial 1-888-660-6345 and enter access code 94154. About 5N+ 5N+ is a leading global producer of specialty semiconductors and performance materials. The Company's ultra–pure materials often form the core element of its customers' products. These customers rely on 5N+'s products to enable performance and sustainability in their own products. 5N+ deploys a range of proprietary and proven technologies to develop and manufacture its products. The Company's products enable various applications in several key industries, including renewable energy, security, space, pharmaceutical, medical imaging and industrial. Headquartered in Montréal, Quebec, 5N+ operates R&D, manufacturing and commercial centers in strategically located facilities around the world including Europe, North America and Asia. Forward–Looking Statements Certain statements in this press release may be forward–looking within the meaning of applicable securities laws. Such forward–looking statements are based on a number of estimates and assumptions that the Company believes are reasonable when made, including that 5N+ will be able to retain and hire key personnel and maintain relationships with customers, suppliers and other business partners, that 5N+ will continue to operate its business in the normal course, that 5N+ will be able to implement its growth strategy, that 5N+ will be able to successfully and timely complete the realization of its backlog, that 5N+ will not suffer any supply chain challenges or any material disruption in the supply of raw materials on competitive terms, that 5N+ will be able to generate new sales, produce, deliver, and sell its expected product volumes at the expected prices and control its costs, as well as other factors believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict and may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward–looking statements. A description of the risks affecting the Company's business and activities appears under the heading "Risk and Uncertainties" of 5N+'s 2024 MD&A dated February 25, 2025 and note 10 of the unaudited condensed interim consolidated financial statements for the three and six-month periods ended June 30, 2025 and June 30, 2024 available on SEDAR+ at Forward–looking statements can generally be identified by the use of terms such as "may", "should", "would", "believe", "expect", the negative of these terms, variations of them or any similar terms. No assurance can be given that any events anticipated by the forward–looking statements in this press release will transpire or occur, or if any of them do so, what benefits that 5N+ will derive therefrom. In particular, no assurance can be given as to the future financial performance of 5N+. The forward–looking statements contained in this press release is made as of the date hereof and the Company has no obligation to publicly update such forward–looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward–looking statements. Forward-looking statements are presented in this press release for the purpose of assisting investors and others in understanding certain key elements of the Company's expected financial results, as well as the Company's objectives, strategic priorities and outlook, and in obtaining a better understanding of the Company's anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Three months Six months 2025 2024 2025 2024 $ $ $ $ Revenue 95,311 74,580 184,199 139,599 Cost of sales 65,888 54,385 127,780 102,405 Selling, general and administrative expenses 7,699 8,717 16,259 16,034 Other expenses (income), net 2,251 2,329 5,576 4,579 75,838 65,431 149,615 123,018 Operating earnings 19,473 9,149 34,584 16,581 Financial expense Interest on long-term debt 2,002 2,146 4,006 3,941 Imputed interest and other interest expense 351 (272) 1,064 139 Foreign exchange (gain) loss (97) 2 (811) (385) 2,256 1,876 4,259 3,695 Earnings before income taxes 17,217 7,273 30,325 12,886 Income tax expense (recovery) Current 4,706 2,177 8,077 4,691 Deferred (2,716) 307 (2,552) 899 1,990 2,484 5,525 5,590 Net earnings 15,227 4,789 24,800 7,296 Basic earnings per share 0.17 0.05 0.28 0.08 Diluted earnings per share 0.17 0.05 0.28 0.08 Net earnings are completely attributable to equity holders of 5N Plus Inc. 5N PLUS INC. INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in thousands of United States dollars) (unaudited) June 30 2025 December 31 2024 $ $ Assets Current Cash 48,624 22,142 Accounts receivable 58,485 42,172 Inventories 142,960 137,823 Income tax receivable 850 1,811 Derivative financial assets 3,131 6,978 Other current assets 5,895 6,469 Total current assets 259,945 217,395 Property, plant and equipment 93,584 85,995 Right-of-use assets 29,373 28,583 Intangible assets 24,213 22,929 Goodwill 12,032 10,665 Deferred tax assets 9,439 7,358 Other assets 3,350 3,982 Total non-current assets 171,991 159,512 Total assets 431,936 376,907 Liabilities Current Trade and accrued liabilities 50,916 42,116 Income tax payable 10,733 5,207 Current portion of deferred revenue 13,834 11,206 Current portion of lease liabilities 2,115 1,952 Total current liabilities 77,598 60,481 Long-term debt 122,961 122,203 Deferred tax liabilities 6,216 5,737 Employee benefit plan obligations 13,272 12,624 Lease liabilities 28,856 27,450 Deferred revenue 10,103 8,688 Other liabilities 797 706 Total non-current liabilities 182,205 177,408 Total liabilities 259,803 237,889 Equity 172,133 139,018 Total liabilities and equity 431,936 376,907 Non–IFRS Measures Backlog represents the expected orders the Company has received, but has not yet executed, and that are expected to translate into sales within the next twelve months, expressed in dollars and estimated in number of days not to exceed 365 days. Bookings represent orders received during the period considered, expressed in number of days, and calculated by adding revenue to the increase or decrease in backlog for the period considered, divided by annualized year revenue. 5N+ uses backlog to provide an indication of expected future revenue in days, and bookings to determine its ability to sustain and increase its revenue. EBITDA means net earnings (loss) before interest expenses, income tax expense (recovery), depreciation and amortization. 5N+ uses EBITDA because it believes it is a meaningful measure of the operating performance of its ongoing business, without the effects of certain expenses. The definition of this non-IFRS measure used by the Company may differ from that used by other companies. EBITDA is reconciled to the most comparable IFRS measure: EBITDA margin is defined as EBITDA divided by revenue. Adjusted EBITDA means operating earnings (loss) as defined before the effect of impairment of inventories, share-based compensation expense (recovery), ERP implementation costs, loss (gain) on disposal of property, plant and equipment, loss (gain) on remeasurement of financial instrument, impairment (reversal of impairment) of non-current assets, litigation and restructuring costs (income), and depreciation and amortization. 5N+ uses Adjusted EBITDA because it believes it is a meaningful measure of the operating performance of its ongoing business without the effects of certain expenses. The definition of this non-IFRS measure used by the Company may differ from that used by other companies. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue. Adjusted EBITDA and Adjusted EBITDA margin are reconciled to the most comparable IFRS measure: Adjusted gross margin is a measure used to monitor the sales contribution after paying cost of sales, excluding depreciation and inventory impairment charges. 5N+ also expressed this measure in percentage of revenue by dividing the adjusted gross margin value by the total revenue. Adjusted gross margin is reconciled to the most comparable IFRS measure: Net debt is calculated as total debt less cash. Any introduced IFRS 16 reporting measures in reference to lease liabilities are excluded from the calculation. 5N+ uses this measure as an indicator of its overall financial position. The net debt to EBITDA ratio is defined as net debt divided by the trailing 12 months EBITDA. Total debt and Net debt are reconciled to the most comparable IFRS measure: SOURCE 5N Plus Inc.
Vancouver Sun
2 hours ago
- Vancouver Sun
Merit expands skin-care offering with first facial cleanser
The news: Merit launches first face cleanser. What you should know: Merit has expanded its Great Skin collection with its first facial cleanser. Dubbed the Great Skin Double Cleanse, the bi-phase formula features a liquid-to-foam texture. 'Great Skin Double Cleanse is a prime example of the Merit philosophy on skin care — that skin care can be work, but having Great Skin doesn't have to be,' says Aila Morin, chief marketing officer (and Canadian) at Merit. 'It's a multi-tasking formula that combines the power of a makeup remover and a cleanser to remove makeup and SPF, with the added benefit of gentle exfoliation, to leave skin feeling soft and smooth. It takes what is normally a two-step process and simplifies it, without sacrificing on efficacy or results.' Discover the best of B.C.'s recipes, restaurants and wine. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of West Coast Table will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Summarizing the new product as 'two-in-one, effective and comfortable,' Morin notes the product addition has been a longtime coming for the It-girl beauty brand. 'Cleanser is a product that often gets overlooked, but we feel it's the most important step to set you up for great skin, so it's always been on our road map,' she notes. 'When we launched our first skin-care product, Great Skin Serum, in 2021, double cleansing was the norm in skin care. As a brand built on simplifying routines, that multi-step process didn't feel true to us — so we took our time to develop a formula that actually made cleansing easier.' The bi-phase product features ingredients such as oat-derived surfactants, gluconolactone (a polyhydroxy acid), plant humectants, and a lightweight emollient to gently cleanse, exfoliate and soothe skin. With products like the brand's fan-favourite Minimalist Perfecting Complexion Stick (so good!), Flush Balm blush and awesome beauty bundles already among many beauty fans' favourites, we won't be surprised to see this new cleanser finding fast fans. The price: $44. The retailer: .
2 hours ago
Why Canada's economy is showing resilience in the face of U.S. tariffs
Despite tariffs piling up over the past few months, economists say there are few signs of economic collapse — though Canada's economy is starting to show cracks. TD Bank economist Marc Ercolao conceded it's a bit of surprise to see the economy holding up against a massive disruption from Canada's largest trading partner. Many months ago, ourselves — as well as other economic forecasters — had an outlook for a much weaker Canadian economy. Obviously, that isn't manifesting now, he said in an interview. We are avoiding the worst-case scenario. Last week, Bank of Canada governor Tiff Macklem said Canada's economy is holding up under the weight of U.S. tariffs with some resilience. Just a few days later, U.S. President Donald Trump added 35 per cent tariffs on Canadian goods to a running tally that includes hefty duties on steel, aluminum, automobiles and, more recently, semi-finished copper. On Thursday, Statistics Canada gave a glimpse at how the economy wrapped up the second quarter of the year when many of those tariffs came into full effect. The agency sees a couple of small contractions in real gross domestic product (GDP) by industry in April and May, but its flash estimates show the economy rebounding somewhat in June. If those early readings pan out, Statistics Canada said that would be good enough for flat growth overall on the quarter. Some of those results are distorted by volatility — businesses rushing to get ahead of tariffs boosted activity in the first quarter, and that's giving way to weakness in the second quarter, for example. It's still hard to pinpoint exact impacts tied to tariffs, Ercolao said, but a broad trend is emerging. What we can say over the last six months or so is that economic activity is somewhat flatlining. Services sectors are holding up relatively well, but Ercolao said export-heavy industries such as manufacturing and transportation are bearing the brunt of the impact. Bank of Canada says consumer confidence growing In an attempt to shore up some of that weakness, the federal government announced various programs to support tariff-affected workers, and broader plans to accelerate defence and infrastructure spending. Macklem noted during his news conference Wednesday that business and consumer confidence are still low, but have improved according to the central bank's recent surveys. While some trade-exposed sectors have faced job losses and unemployment has generally trended upward to nearly seven per cent, employers elsewhere in the economy continue to expand their payrolls. Consumption is still growing, Macklem said. It's growing modestly. It's certainly being restrained by the uncertainty caused by tariffs. But it is growing and we expect that to continue through the third and fourth quarters. Last week, the Bank of Canada kept its policy interest rate unchanged at 2.75 per ce nt in a third consecutive decision. WATCH | Bank of Canada's governor gives reasons for holding the bank rate steady: If the central bank were panicked about the Canadian economy's ability to withstand U.S. tariffs, Ercolao argued it would likely have lowered that rate. The past week's GDP readings were good enough for BMO to raise its outlook for the third quarter into positive territory. Forecasters at the bank now expect Canada will avoid a technical recession this year. BMO chief economist Doug Porter said in a note to clients Friday that Ottawa's personal tax cut at the start of the month and robust demand for domestic travel amid the trade war will boost the economy this quarter, as will the less-dire sentiment around economic forecasts. Some other forecasters continue to pencil a tariff-induced recession into their outlooks. In the Bank of Canada's monetary policy report released alongside the rate decision, it outlined one scenario for the economy assuming the tariff situation remains largely status quo. Canada avoids a recession in that outcome. Growth in 2025 and 2026 remains overall positive, but half a percentage point lower than it would have been without the weight of tariffs. Time to adapt, mitigate negative impacts Macklem told reporters the Bank of Canada would expect the economy to keep growing even with today's tariffs, but it'll be on a permanently lower path. Unfortunately, the sad reality is that tariffs mean the economy is going to work less efficiently. Porter said in his note that the actual impact of Trump's new 35 per cent tariff on Canada's economy could be less than the headline figure suggests. Because of a carve-out for Canadian exports that are compliant with the Canada-U.S.-Mexico Agreement (CUSMA), BMO sees the effective U.S. tariff rate at roughly seven per cent under the new duties, less than a percentage point higher than it was before Friday. But with CUSMA up for renegotiation in 2026, Porter said that 35 per cent tariff rate could loom as a cudgel over negotiations — taking full effect if the trade agreement expires without a new deal in place. Enlarge image (new window) Tracking the trade war between the U.S and Canada. Photo: CBC / Wendy Martinez, Graeme Bruce The Bank of Canada published a separate escalation scenario this week that would see the United States remove Canada's CUSMA exemption as it ramps up global tariffs. Real GDP would drop an extra 1.25 per cent by 2027 in this more severe case; Porter said that this outcome would be serious for sure, but far from disastrous. Ercolao said much of the tariff doom and gloom earlier in the year was tied to the speed at which those import duties would be imposed. But the on-again, off-again nature of U.S. trade restrictions to date has given businesses time to adapt to the new way of doing business and constant delays in implementation, he said. If we go back to when Trump began his presidency, had he went 100 per cent on his tariff plan right away, we probably would have seen a deep economic contraction just because it would have been so sudden, Ercolao said. Now we've been afforded that time to at least try to mitigate some of the negative impacts from what these tariffs were expected to do to the Canadian economy.
