In front of a room full of business people and some key economic players in Quebec, Canada’s industry minister appeared confident about Canada’s future despite looming U.S. tariffs set to be implemented next week.
“What I can tell you is our mission is to avoid a tariff,” said Francois-Philippe Champagne. “Make sure that we would seek further suspension if there would be a threat of that and alternatively to prepare if there were tariffs imposed.”
Champagne was speaking with Montreal’s Chamber of Commerce. He wouldn’t say if he thinks tariffs will be further suspended.
“We always have to take what the president says seriously and always listen to what he has to say,” Champagne said.
The Canadian Federation of Independent Business (CFIB) says the concern is real for small business owners.
“The level of anxiety is really high,” Jasmin Guenette, vice-president of the CFIB, said. “It’s because business owners don’t know now if tariffs will be imposed or not.”
He says many businesses are not prepared for tariffs and they’re already feeling the impact.
“That’s the kind of environment we are in at the moment,” Guenette said. “It’s quite unfortunate. Uncertainty is the enemy of business.”
Should tariffs be levied against Canada, the business sector will be watching closely to see what Ottawa does.
The minister says Canada’s tariff response will be robust and targeted, but Champagne also points out discussions are ongoing.
