B.C.-based business welcomes idea of financial support from tariffs

Eby said B.C. will echo Ottawa’s plans to provide a Covid-style response in financial relief for businesses and people, as Trump’s threatened tariff deadline lo

With a deadline for threatened tariffs just four days away, Premier David Eby welcomed reports that Ottawa plans to provide pandemic-sized relief for businesses and people—if the tariffs are imposed.

“We’re going to work to make sure that the federal government keeps to those commitments, that they treat this as seriously as they did the COVID-19 response, and for our part here in British Columbia that we will fill in the gaps to make sure that British Columbians are protected,” said Eby on Tuesday.

Surrey-based box making company Cancorr sends 60 to 70 per cent of its products to the United States

It’s co-founder, Baha Naemi, says it will suffer costs up to $800,000 per month under Trump’s threatened 25 per cent tariffs, and government help is critical to its short term survival

“It is very important for us to be able to have access to immediate relief from the government, and this would help us survive from the initial blow from the tariffs,” said Naemi on Tuesday.

While Trump is known for bluffing, his press secretary Karoline Leavitt doubled down on Saturday being the date for the tariffs to be imposed.

“The Feb. 1 date for Canada and Mexico still holds,” she said.

The details of the relief remain vague, including when it would kick in. Eby says funds from retaliatory tariffs on American goods could be used to provide loans or grants for businesses and support those who lose their jobs.

“Employment insurance for people who are laid off temporarily as employers face cancelled orders, potentially from the United States,” said Eby citing potential examples of the support.

Naemi says while short term relief is key, a long term plan is needed to end the tariffs, and government support for too long would lead to soaring inflation.

“We saw the long term effects of COVID-19 relief,” he said, speculating that inflation could soar even higher if the tariffs, and corresponding government support, go on too long.

The premiers and Prime Minister Trudeau are meeting Wednesday to further discuss strategy to combat the tariff threats, and likely to hash out further details about federal financial relief for businesses, should tariff threats become a reality.