New Brunswick Premier Susan Holt says financial support from Ottawa, in the event of 25 per cent tariffs from U.S. President Donald Trump, led Wednesday’s meeting between provincial and territorial leaders, and the federal government.
Holt says specific details about federal support programs were scarce, because nobody knows for sure what will happen Feb. 1 – the timeline mentioned by Trump for when tariffs may begin.
“Right now, looking at a worst-case scenario of 25 per cent across the board, we’re looking at the potential impact to 6,000 jobs in New Brunswick,” says Holt.
In speaking with reporters after the meeting, Holt says job impacts would come from a reduction in production and manufacturing leading to fewer shifts for employees.
“We may have workers and entrepreneurs that will need supports quite quickly in the face of potential 25 per cent broad-based tariff across our economy,” says Holt.
Prince Edward Island Premier Dennis King has suggested as many as 1,500 workers would be affected by tariffs, while Nova Scotia Premier Tim Hoston says a 25 per cent tariff “could impact thousands” of jobs in that province.
Sources tell CTV News in Ottawa the federal government is preparing a stimulus program that could reach pandemic-level relief, depending on what happens Feb. 1.
On Wednesday, Trump’s nominee for the U.S. Congress Department hinted at U.S. tariffs being implemented in two stages. Howard Lutnick said one phase could begin soon, with a second phase beginning later in the spring, adding the tariffs could be avoided altogether if Trump is satisfied with Canada’s actions on border security.
The ‘Team Canada’ approach from the premiers and Ottawa has been to engage with U.S. governors, members of congress, and local mayors to win support for Canada’s argument that tariffs would hurt both countries. So far, any public show of stateside support has been mostly quiet.
“Everyone is playing their cards a bit closer to their chest right now,” says Jamie Gillies, director of communications and public policy at St. Thomas University in Fredericton. “Because we’re not actually sure what the administration might do say Feb. 1 and we’re not sure what it’s going to look like in the future. I don’t think there’s state governors, and I don’t think there’s members of congress who necessarily want to go out on a limb here.”
Holt says Wednesday’s meeting also touched on trying to diversify the country’s economy with new markets, in addition to “fine-tuning our tariff retaliatory strategy in preparation for what might happen this Saturday.”
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