U.S. President Donald Trump told reporters Friday that there’s nothing Canada can do to avoid tariffs taking effect on Saturday.
“Nothing, not right now,” said Trump from the Oval Office. “It’s a lot of money coming to the United States. As you know we have about a $200 billion deficit with Canada, getting close to $200 billion. They’ve treated us very unfairly.”
Also on Friday, B.C. Premier David Eby met with his government’s Tariff Task Force made up of business, First Nation and union leaders across the province.
“There was unanimity around the table about the need for us to identify other markets, to diversify, to ensure we’re never again in the position where we’re so reliant on the decisions of one person in the White House,” said Eby.
While Trump promised 25 per cent tariff across the board on Canadian exports starting Feb. 1, he clarified Friday that oil may get an exemption.
“I’m probably going to reduce the tariff a little bit on that,” said Trump, adding the oil tariff may be in place by Feb. 18. “We think we’re going to bring it down to 10 per cent.”
Eby meanwhile said the tariffs could do serious harm to both the Canadian and American economies.
“We can expect that a lower dollar is likely to be an outcome of this, which means that for things that are purchased outside of our borders, including from the United States, those are going to get more expensive,” said Eby. “And retaliatory tariffs from Canada will increase the cost of some consumer goods.”
Eby said items including pasta and cars are likely to go up in price.
“I can assure you that we are ready for the fight,” he added.
The premier said the task force is focused on ways to remedy the potential tariff impacts on B.C.’s economy.
“We talked about how we can make it easier for people in British Columbia and in Canada to buy Canadian, to buy B.C. products,” said Eby.
“This is a moment for us to strengthen our economy, to address long standing structural issues, to ensure that we are, for example, trading as freely with Ontario as we do with Washington state.”
Eby said better interprovincial trade will be key to help businesses if tariffs are in place.
The task force is set to meet again over the weekend to continue planning and responding for whatever Trump does next.
