Prime Minister Mark Carney at a press conference in Mississauga, Ont., on Sept. 5. Photo by Sammy Kogan/The Canadian Press

Prime Minister Mark Carney ’s government is launching a new $5-billion “strategic response fund” to help businesses across all sectors diversify and build a new economy in response to the “rupture” to trade and supply chains caused by policies of the United States , Canada’s largest trading partner.

The fund can be tapped to help pay for a range of responses to tariffs and other protectionist U.S. policies, from pivoting to new products and markets to retraining workers and retooling plants, Carney announced Friday, adding that it can be used to offset the cost of tapping new export markets.

The new fund was announced as part of a suite of government pro

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