‘Financial wartime’: Eby backs response to federal tariffs, possible export bans


Citing a “time of economic war,” the BC Premier David Eby He says his government supports the federal system to meet US demands pricesup to and including import tariffs and export restrictions.

Mr. Eby said this on Wednesday after meeting with the ministers of the world, in anticipation of the elected president of the US Donald Trump threatening to impose a 25 percent tariff on Canada.

Eby said officials understand the “need for consensus,” and were in agreement on the need to prepare Trump for a full 25% tax rate.

“We agreed with the government’s response to the tariff and continue to support the response to tariffs and the possibility of export taxes and restrictions on the export of certain products from Canada to the United States,” Eby said.


Click to play video: 'BC Premier backs tariffs, exports and sanctions in response to Trump's threats'


BC’s premier backs tariffs, exports and sanctions in response to Trump’s threats


Earlier on Wednesday, Prime Minister Justin Trudeau acknowledged that no region in the country should be “unreservedly burdened” in response to a potential disaster, but added that “everything is on the table as a possible response.”

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Eby said the officials also agreed on the need to eliminate trade barriers between regions and work to expand trade relations with countries other than the United States.

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BC also pushed for Ottawa to expedite federal approvals for major projects in BC, including important mineral extraction.

The district also fully supports Ottawa new border security system.

“Especially around BC concerns about counterfeit money, fentanyl, importing drug precursors as well as Ontario and Quebec concerns about immigration,” he said.


Click to play video: 'Trudeau meets Canadian officials to talk about tariff threats'


Trudeau meets with Canadian officials to discuss tariff threats


As the Premiers sought to show solidarity on Wednesday, Alberta Premier Danielle Smith apparently refused to sign the federal plan.

Smith, who opposes the ban on US oil and gas imports, took to social media to explain his position.

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“Government officials continue to float in public and private the idea of ​​blocking US electricity and investing in Alberta’s export of energy and other resources to the United States,” he wrote.

“Until these threats are resolved, Alberta will not be able to support the government’s plan to deal with the threatened taxes.”

Eby downplayed the potential split over “Team Canada” pricing, saying not everyone on board would agree to either option.

“Premier Smith has to do what he feels he has to do out of respect for his constituents,” Eby said.

“I just know that as a Canadian and as a British person I will be firm with the prime minister to make sure that we don’t reduce the resources that the government is giving to respond to this.”


Click to play video: Canada's 'Doug Ford' hat not for sale, warns US of 'excessive tax' retaliation


Doug Ford sports hat ‘Canada is not for sale’, warns US to refund ‘excessive tax’


What effect Trump’s tariffs will have on B.C. remains unclear, though experts say the forestry sector — a veteran of U.S. trade disputes — may be one of the hardest hit.

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“Sometimes, the prices will go back to the mill. The low-cost areas will continue to produce. BC is the least expensive area in North America,” said Russ Taylor, president of Russ Taylor Global.

So if there are job cuts due to lower prices and higher costs… BC mills will cut first and then more… loggers will then cut back. It’s a house of cards over time until you find the bottom.”

Canadian and industry leaders are hoping the U.S. may back off, or reduce its stance on tariffs, although hopes are starting to fade as Trump’s inauguration nears.

Trump will take office on Jan. 20, during which the image of the product should be clearly understood.


&copy 2025 Global News, a division of Corus Entertainment Inc.




2025-01-15 23:23:13
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