If the American president Donald Trump moves forward with imposing a 25 per cent tariff on Canadian-made goods, British Columbia would respond in kind, Finance Minister Brenda Bailey said Monday.
Although she didn’t elaborate on specific products BC might target, Bailey said “everything is on the table.”
She referenced Premier David Eby’s press conference last week, during which he mentioned products such as American wine sold in B.C. liquor stores, orange juice of Florida sold in British Columbia grocery stores and Harley Davidson motorcycles sold in British Columbia.
“There is a need to focus on products that are particularly in red states where they will have impact and the potential to influence people within Trump’s own party,” Bailey said.
“I therefore reiterate that nothing would be out of the question.”
Bailey said the British Columbia government will have time to make its case directly to the U.S. administration and policymakers.
Last week, Bailey told a news conference that the tariffs would be “unprecedented in modern times.”
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In British Columbia, lumber, pulp and paper, metallic minerals and energy producers are all important exports to the United States.
For elected officials, the question of whether or not Trump’s tariff threats will come to fruition remains a source of concern on Trump’s inauguration day.
“We will immediately begin overhauling our trade system to protect American workers and families,” Trump said in his speech.
“Instead of taxing our citizens to enrich other countries, we will impose tariffs and taxes on foreign countries to enrich our citizens. »
He did not specify what these tariffs would consist of.
“It appears that the first step will be a review of tariffs for Canada, Mexico and China and a broader review of the environment for these three countries. It is therefore possible to continue the discussion and make the argument that Canada is an indispensable country. trading partner of the United States,” said Stewart Perst, professor of political science at the University of British Columbia.
If the tariffs were implemented, it would result in a $69 billion loss to B.C.’s economy by 2028, Bailey said last week.
This would mean 124,000 fewer jobs by 2028.
Investment would decline, with corporate profits falling by billions in 2025 and 2026, Bailey said.
The unemployment rate would increase to 6.7 percent in 2025 and could reach 7.1 percent in 2026.
“The fact that the Trump administration is stepping back and proposing a study as a first step suggests that the door is wide open to a number of possibilities. So we could see a very targeted pricing offer to specific sectors, which is something. that we actually experienced under the first Trump administration on things like steel,” Perst added.
Federal cabinet ministers will also meet over the next two days in Quebec.
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