The premier of Nova Scotia said the province will work with sectors that will be impacted by tariffs as the trade war with the United States ramps up.
The dispute with our neighbouring country was triggered when Ottawa walked away from a trade deal last month that they said threatened our sovereignty.
President Donald Trump pledged 50 per cent tariffs on $27 billion of goods, which Prime Minister Mark Carney matched dollar for dollar as of Tuesday.
A $50 million contingency fund to help Nova Scotian businesses deal with tariffs was announced last year but has yet to be tapped into.
Speaking with reporters at Province House on Tuesday, Tim Houston said it will be used as needed and they are speaking with individual companies to understand each situation.
“We’ll be ready to respond,” said Houston.
He explained that things like supply chains, customer base and employment base could be affected.
“It would be hard to properly articulate how stressful this is for business owners,” said Houston. “We need to make sure we are listening carefully. This could be a longer-term situation than any of us appreciate.”
He added, Nova Scotia’s economy is bigger than the government so there are limits as to what they can do and is worried about a significant impact on employment.
“I believe there is a risk that the situation could be there as long as Donald Trump is there,” explained Houston. “So, in one sense, it’s temporary. He’s at the end. In another sense, it’s a long-term thing.”
