New Brunswick has unveiled how it plans to support businesses and residents impacted by tariffs from the United States.
A 25 per cent tariff on most Canadian products entering the U.S. — except 10 per cent on energy products — went into effect on Tuesday.
Premier Susan Holt said the “illegal, unjustified” tariffs will have a significant impact on New Brunswickers, with 92 per cent of our province’s exports going to the U.S.
“These tariffs are an attack on Canada and on who we are, and they mark a turning point for our province and our country,” Holt said during a news conference on Tuesday.
Four-pillar response plan
The province’s $162-million response plan includes support for affected residents, relief for businesses and movement on interprovincial trade.
Working NB and the Department of Post-Secondary Education, Training and Labour will deliver a flexible labour market support program that will provide support and services to those whose jobs have been affected.
A contingency fund will also be available through the Regional Development Corporation to provide support for impacted communities.
Opportunities NB has launched a new $40-million competitiveness and growth program to enhance the long-term sustainability of the province’s large export-intensive companies.
Luke Randall, the minister responsible for Opportunities NB, said the goal is to help address competitiveness gaps and protect jobs.
“We expect to generate short-term sustainability, long-term competitiveness and economic resilience for New Brunswick businesses,” said Randall.
Opportunities NB will also leverage its existing $30-million strategic assistance budget in response to current challenges.
The province is also making available working capital loans of up to $5 million to help businesses maintain operations.
An additional $4 million will be set aside to support the New Brunswick Fisheries Fund and help seafood producers, which are expected to be among the hardest hit.
“We know there’s remains a lot of uncertainty in New Brunswick, across Canada and globally, but I’m here to tell you that we are ready and we have your back, New Brunswick,” said Randall.
Breaking down interprovincial trade barriers
The province said it is also taking steps to reduce interprovincial trade barriers and improve labour mobility.
Intergovernmental Affairs Minister Jean-Claude D’Amours said they are placing a strong focus on reducing the regulatory and administrative burden that exists between provinces and territories.
“New Brunswick is looking at automatically recognizing certified workers from another jurisdiction for a minimum of 120 days, allowing them to work while obtaining any necessary provincial credentials,” said D’Amours.
The province is removing nine, narrowing one and considering six other party-specific exceptions under the Canadian Free Trade Agreement.
It is also participating in direct-to-consumer sales of alcohol and eliminating personal exemptions limits for alcohol.
Provincial officials said they also plan to promote their “NB Made” campaign, which provides tools for people to identify items made in the province.
Previously announced measures
The plan released Tuesday is in addition to measures that were previously announced by the Holt government during an earlier threat of tariffs.
They include removing U.S. alcohol from NB Liquor shelves, signing no new contracts with American companies, and working with other Atlantic provinces to find new markets for items such as seafood and lumber.
“When push comes to shove, we will do whatever it takes to defend New Brunswickers and our province. Our government is using every tool in our toolbox to protect New Brunswick workers and our economy,” added Holt.
Official Opposition responds to plan
New Brunswick’s Opposition leader said the government’s tariff plan is a “tepid response from an overwhelmed government.”
Glen Savoie said the $160-million plan from the Holt government leaves more questions than answers.
“The Premier does not seem to grasp the enormity of this challenge to our province and to our nation. A challenge that demands big shifts in strategy and thinking,” said Savoie.
The interim Progressive Conservative leader added it was disappointing to hear no reference to resource development as part of an overall strategy.
“At a time when New Brunswick had the opportunity to show strong, bold, visionary leadership, today’s news conference displayed instead a tepid response from an overwhelmed government that is clearly not up to the challenge,” he said.
