BC Chamber of Commerce Statement on Imposition of US Tariffs
In response to the imposition of tariffs by the United States on Canadian goods, Fiona Famulak, President and CEO of the BC Chamber of Commerce, released the following statement:
“Despite knowing tariffs were coming, today’s news is incredibly disappointing and deeply concerning. These unnecessary and unreasonable tariffs will have significant consequences on BC businesses and will negatively impact workers and communities in every region of our province.
“On behalf of the BC Chamber of Commerce, the 100 chambers of commerce and boards of trade in the province and the 36,000 businesses that we represent, we understand a strong and determined response from government is required. I believe we need to stand united as a province and as a country to protect our nation's interests.
“The United States and Canada have enjoyed a mutually beneficial trade relationship for generations. In fact, we are each other’s largest trading partner with nearly $3.6 billion worth of goods and services crossing the border each day. Any extended trade war will have profoundly negative economic consequences for businesses and consumers on both sides of the border. It will likely include price increases, job losses, inefficiencies in supply chains and a drain on economic growth for both countries. The sad reality is that when tariffs are applied, no one wins.
“Since the initial threat of tariffs from President Trump in November, many BC-based businesses have dedicated countless hours to developing strategies to mitigate the impact of today’s announcement. Not unlike during the pandemic, this is a time when businesses need to be nimble, plan forward, reduce costs and explore opportunities to diversify their markets.
The challenges ahead are daunting for our BC-based businesses. The BC Chamber of Commerce will continue to be a bold voice for business and is committed to working collaboratively in support of a Team BC response, as this dispute unfolds.”