N.B. may have dodged bullet with Trump tariff plan, but uncertainty remains, Holt says
CBC
Just two hours after U.S. President Donald Trump announced sweeping tariffs Wednesday across much of the world, New Brunswick Premier Susan Holt was one of the first Canadian leaders to speak out.
While Canada was spared the worst tariffs, "that uncertainty doesn't go away," Holt said at a news conference, calling the result for New Brunswick a continuation of the status quo.
"After months of uncertainty, this means unnecessary stress and pain for both of our countries, and that hasn't gone away today."
Trump announced varying tariffs on much of the world, but left out Canada and Mexico, because they fall under the existing Canada-U.S.-Mexico pact. But a 25 per cent auto tariff applies to imports from Canada, along with the recently announced 25 per cent tariffs on aluminum and steel.
While she said she's not ready to celebrate yet, Holt said it was fair to say New Brunswick dodged a bullet.
"So to be sitting here today without new tariffs on Canada aside from the automobile sector, that is better than expected," she said. But since Trump launched his trade war, Canadians have seen how quickly things can change, she added.
In New Brunswick, where more than 90 per cent of exports go to the U.S., Holt said the government will continue with its plan, announced March 4, to financially support industries impacted through a $62 million tariff relief package, and its boycott of U.S. business will continue.
While the province has not dispersed any funds to applicants yet, she said, the support will be available soon.
The provincial government has stopped purchasing U.S. goods, and American liquor is off the shelves.
About 10 Teslas the province owns are "sitting in a parking lot" while the province looks into selling them, she said.
While steel, aluminum and auto manufacturing are not New Brunswick's main industries, the province will still face pain, Holt said.
"You don't treat your neighbours like this."
New Brunswick industries like forestry and agriculture have been impacted by the uncertainty of the trade war, Holt said, because U.S. clients held off ordering Canadian goods until they knew what tariffs would be imposed.
"Uncertainty has had a broad impact, because there has been a real slowdown of activity of companies that were going to make purchases in Canada."
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