The latest global tariffs imposed by U.S. President Donald Trump could create opportunities for affected countries.
PG Chamber of Commerce Executive Director, Neil Godbout said we have long and established trade relationships with mechanisms through the World Trade Organization to settle disputes.
“Softwood lumber is the primary example of that, certainly in our neck of the woods, is that somehow they’re unfairly competing with another jurisdiction, in this case, Canada when it comes to lumber.”
“There’s a mechanism to go and resolve those kinds of trade disputes in a reasonable way, and negotiating at the table, rather than acting unilaterally, which is what Trump is doing.”
Godbout said we’re already seeing provinces discuss and work towards interprovincial trade, but also seeing more discussions globally.
“We’re talking to our friends in Japan, in South Korea, Australia, and of course on the other side of the Atlantic in Europe.”
“We have other friends in the world, and this is an opportunity to expand those trading relationships.”
While Canada was unaffected by the blanket 10 per cent tariff on all exports to the U.S., the White House confirmed a 25 per cent tariff on all imported vehicles shipped stateside.
Canadian steel and aluminum producers will also face a 25 per cent tariff on their exports to the United States.
More detailed information on the tariffs can be found on our previous story here.
– With Vista Files
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