Trudeau says Canada will take "increasingly aggressive steps to keep you and your family safe."
The federal government will be denying entry to Canada to people who are not Canadian citizens or permanent residents.
Exceptions include aircrews, diplomats, immediate family, and U.S. citizens.
New rules will prevent travellers who present symptoms from boarding an airplane. Air carriers will be required to perform a basic health assessment for all travellers.
"This means that anyone who has symptoms will not be able to come to Canada," said Trudeau.
For those unable to return, Trudeau says Canada "will not leave you unsupported."
A support program will include financial assistance for the extra costs involved in returning home or to cover basic needs while waiting to return to the country.
International flights will also be limited to four Canadian airports starting Wednesday: Toronto Pearson, Montreal Trudeau, Calgary and Vancouver
These travel restrictions will not apply to commerce or trade.
The government will make $10 billion available to businesses affected by COVID-19.
"We are prepared to see Canadians through this time," Trudeau said.
Funding will also be available to First Nations.
More support will be announced as early as Tuesday, he said.
Trudeau again urged Canadian travellers to return by commercial means while they still can.
"Let me be clear. If you're abroad, it's time to come home," he said. "If you have just arrived, you must self-isolate for 14 days."
The Prime Minister also urged Canadians to "stay home," and to continue social isolation measures to continue to communicate with each other via phone and e-mail.
12:51 Original story:
Prime Minister Justin Trudeau is set to address the nation this afternoon on the government's response to COVID-19.
The Prime Minister is expected to speak about new actions the government will take to help stem the spread of the global pandemic.
Trudeau said on Sunday that stricter border measures and international flight restrictions were on the table.
The government is currently asking all those arriving in Canada to voluntarily self-isolate for 14 days.
- with files from The Canadian Press