Canada expecting smaller hit from Trump’s global tariffs, says N.B. premier after meeting PM
U.S. President Donald Trump announced his intention to impose sweeping global tariffs on Wednesday, sparking concerns about the potential impact on international trade. However, New Brunswick Premier Susan Holt has expressed optimism after Prime Minister Mark Carney reassured provincial and territorial leaders that Canada is expected to sustain less damage than other trading partners.
Following a meeting with Carney on Friday, Holt revealed on Sunday that Carney had indicated Canada could face lower tariffs compared to other countries. She stated, “It looks like we will receive a favourable level of tariffs, as low as 10 or 15 per cent.” This news comes as a relief to Canadian officials who were bracing for significant economic repercussions.
Moreover, Holt mentioned that the tariffs may not be applied uniformly across the entire Canadian economy, further alleviating concerns about job losses. She explained, “Our projections in New Brunswick for potential job losses may be less severe than initially anticipated.”
In response to Trump’s announcement of a 25 per cent tariff on all finished vehicles imported into the United States, Carney expressed confidence in Canada’s position. He stated, “We have the best deal of a bad deal within what the Americans have proposed.” Carney emphasized that Canada is prepared to respond with retaliatory measures if necessary.
During a press conference, Carney hinted at ongoing negotiations with the U.S. government and indicated that Canada has a range of options to address the situation. He emphasized the importance of a strategic and proportional response to any tariffs imposed on Canadian goods.
In a recent phone call with Trump, Carney discussed the need for a comprehensive economic and security relationship between the two countries. The conversation was described as cordial and productive, suggesting a willingness to engage in further dialogue.
The motivation behind the global tariffs was clarified during meetings between Canadian representatives and top U.S. trade officials. According to Ontario’s representative in Washington, David Paterson, the U.S. government is focused on addressing its deficit in federal spending. Measures such as budget resolutions, spending cuts, and tariffs are aimed at reducing the deficit and attracting investment into the United States.
Overall, the reassurances provided by Prime Minister Carney have instilled a sense of cautious optimism among Canadian officials. As discussions continue and negotiations progress, Canada remains vigilant in safeguarding its interests and ensuring a balanced response to global trade challenges.
