New Brunswick prepares countermeasures after the U.S. introduces tariffs that could impact hundreds of provincial jobs
At a press conference on Monday, Aug. 24, New Brunswick Premier Susan Holt addressed the collapse of a proposed Canada-U.S. trade deal.
The province was originally supportive of the trade deal until the U.S. introduced conditions that Holt said, “crossed a line for New Brunswick and for Canada.”
U.S. President Donald Trump said he would impose 50 percent tariffs on between $20 billion and $28 billion in Canadian goods starting Jan. 1, 2027.
The new tariffs affect $112 million in N.B. exports, which is around 0.8 per cent of New Brunswick’s U.S. trade. This could impact 500 jobs across the province, a number Holt hopes to minimize. Holt’s team has been reaching out to impacted employers in the province to let them know they will be supported.
Holt stated that New Brunswick is working closely with Ottawa to strategically counter tariffs.
“As team Canada, we want to see the largest impact on the U.S., with the smallest impact on New Brunswick and on Canada,” said Holt.
“Picking those things that are going to be irritants to them. Picking the things that might get us back to the table.”
Holt urges New Brunswickers to buy local to offset losses for affected businesses.
“We are talking about people’s livelihoods. We are talking about people’s jobs, businesses they have built from the ground up,” said Holt.
“Now being thriving enterprises of 10, 50, or 100 people that are going to see serious impacts to their operation and to their employment.”
There has been considerable economic uncertainty over the last few months as federal government officials have negotiated with the United States. Some of that uncertainty is already impacting the local economy.
In early August, AV Nackawic announced it was halting all wood deliveries for the foreseeable future due to “sufficient wood inventory,” as companies begin to see fewer orders from U.S. customers.
–with files from Theresa Blackburn
