Newfoundland and Labrador Premier Tony Wakeham is currently attending the Offshore Northern Seas oil and gas conference in Norway. However, his focus remains on addressing the impact of the Canada-U.S. trade war within the province.
In a statement released on Tuesday, Wakeham acknowledged that the imposed tariffs would lead to increased costs for businesses and consumers, disrupt supply chains, and create uncertainty in Newfoundland and Labrador. While the province may experience less direct impact compared to others, it is not completely shielded from the repercussions.
As Canada implements retaliatory tariffs against the United States in response to U.S. trade actions, Wakeham commended Prime Minister Mark Carney for his leadership. He emphasized that the provincial government stands united with the federal initiatives.
Expressing solidarity with the national effort, Wakeham stated, “Newfoundland and Labrador will continue to stand with Team Canada to safeguard our economic interests and promote a stable trading relationship with our neighboring country.”
To monitor the effects of the trade dispute, Wakeham mentioned reaching out to key industry partners crucial to the province’s economy. These collaborative efforts aim to assess and address the impacts of trade actions on Newfoundland and Labrador.
The Government of Canada has announced counter tariffs on $27.6 billion worth of U.S. goods, effective September 8, along with a $7.5 billion support package for workers and businesses. Wakeham emphasized the need for ambitious and targeted response programs to protect jobs and communities in Newfoundland and Labrador.
Meanwhile, opposition leaders in the province are urging the government to revive the “premier’s roundtable” focused on tariffs, which was initiated under a former premier. The roundtable included representatives from unions, businesses, and other stakeholders to provide comprehensive input on trade-related matters.
In response to these calls, Wakeham’s office confirmed ongoing communication with various organizations, including the Newfoundland and Labrador Federation of Labour and the Mining Industry N.L. NDP Leader Jim Dinn stressed the importance of inclusive consultations to address the local impacts of the trade war effectively.
Small business owners have also raised concerns about access to federal support programs and criteria for assistance. Jonathan Galgay from the Canadian Federation for Independent Business highlighted the significance of ensuring that criteria for key programs cater to the needs of smaller businesses. He emphasized the need for a thorough understanding of the implications of the new tariffs and countermeasures.
The provincial government is actively engaging with stakeholders and industry partners to assess the situation and seek feedback on potential impacts. This collaborative approach aims to navigate the challenges posed by the trade war and ensure comprehensive support for Newfoundland and Labrador’s economy.