United States President Donald Trump may have left Canada out of sweeping reciprocal tariffs on Wednesday, but New Brunswick Premier Susan Holt said the ongoing uncertainty due to the trade war is causing economic pain for the province.
“As of now, April 3 looks the same as April 2,” Holt said during a news conference Wednesday evening. “Status quo. We are awaiting the executive order on this so we can get a clear picture of how this impact our province.
“After months of uncertainty, this means unnecessary stress and pain for our countries, and that hasn’t gone away today. You don’t treat your neighbours like this.”
Trump unveiled a list of countries that will be subject to reciprocal tariffs and Canada was not on that list. He also said the United States will have a “minimum baseline tariff” of 10 per cent on other countries and a fact sheet from the White House does not list either Canada or Mexico as countries that will be subject to that baseline.
However, 25 per cent tariffs on some Canadian goods remain in place and an across the board 25 per cent tariff on all foreign-made automobiles will take effect at midnight Wednesday.
“Today we are relieved there are not new tariffs on New Brunswickers,” Holt said. “Being absent from the list doesn’t totally reassure us that we won’t go on the list. We’re eager to see the executive order.”
Holt noted that 92 per cent of New Brunswick’s exports go to the United States and the ongoing tariff talks have put a pause on trade between both regions.
“There has been a real slowdown of activity from companies that were going to make purchases from New Brunswick,” she said. “We’ve seen that in forestry, agriculture. Businesses in the U.S. and New Brunswick have not been clear what the future looks like.”
On March 4 the New Brunswick government revealed its tariff response plan, which includes support programs for impacted businesses. Holt said those supports will remain in place.
“This moment continues to present us with an opportunity to retool our economy,” she said. “We know these are uncertain times, which make it hard to plan. We will do whatever it takes to protect our economy.”
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